Tapestry (NYSE:TPR) Given New $130.00 Price Target at The Goldman Sachs Group

Tapestry (NYSE:TPR) had its price objective hoisted by The Goldman Sachs Group from $116.00 to $130.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the luxury accessories retailer’s stock.

Several other analysts also recently weighed in on TPR. Wells Fargo & Company boosted their target price on Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Raymond James Financial restated an “outperform” rating and issued a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Argus boosted their price target on Tapestry from $78.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, June 17th. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.42.

Tapestry Stock Up 0.6%

Tapestry stock opened at $115.56 on Monday. Tapestry has a fifty-two week low of $43.07 and a fifty-two week high of $117.77. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The company has a market capitalization of $23.92 billion, a P/E ratio of 183.43, a PEG ratio of 2.77 and a beta of 1.57. The stock has a 50-day simple moving average of $107.20 and a 200-day simple moving average of $89.75.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business earned $0.92 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts expect that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s payout ratio is currently 253.97%.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Tapestry

Several large investors have recently modified their holdings of the business. Nilsine Partners LLC acquired a new stake in shares of Tapestry during the third quarter valued at about $280,000. Jackson Wealth Management LLC acquired a new stake in shares of Tapestry during the third quarter valued at about $523,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Tapestry during the third quarter valued at about $1,234,000. GAMMA Investing LLC grew its stake in shares of Tapestry by 11.9% during the third quarter. GAMMA Investing LLC now owns 11,080 shares of the luxury accessories retailer’s stock valued at $1,254,000 after acquiring an additional 1,178 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Tapestry by 1.2% during the second quarter. Corient Private Wealth LLC now owns 50,393 shares of the luxury accessories retailer’s stock valued at $4,425,000 after acquiring an additional 609 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.