Tapestry (NYSE:TPR) Earns Buy Rating from Analysts at BTIG Research

BTIG Research initiated coverage on shares of Tapestry (NYSE:TPR) in a report released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $140.00 price target on the luxury accessories retailer’s stock.

Several other brokerages also recently commented on TPR. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Evercore ISI lowered their price target on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Barclays increased their price target on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, UBS Group reduced their price objective on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Tapestry Price Performance

Shares of TPR opened at $116.47 on Tuesday. The company has a market capitalization of $24.11 billion, a price-to-earnings ratio of 184.87, a P/E/G ratio of 2.81 and a beta of 1.57. Tapestry has a fifty-two week low of $43.07 and a fifty-two week high of $118.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The business’s 50-day moving average is $108.07 and its 200-day moving average is $91.82.

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

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a $0.40 dividend. 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. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the firm’s 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 transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This trade 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 owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after acquiring an additional 606,686 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tapestry by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after acquiring an additional 158,782 shares during the period. SRS Investment Management LLC lifted its holdings in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after acquiring an additional 589,000 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Tapestry by 1,661.6% during the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after acquiring an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after acquiring an additional 939,227 shares during the period. 90.77% of the stock is owned by institutional investors.

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.