Tapestry (NYSE:TPR) Rating Increased to Strong-Buy at Wall Street Zen

Tapestry (NYSE:TPR) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

Other analysts have also recently issued reports about the stock. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a research note on Thursday, September 11th. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. UBS Group decreased their price target on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price target on shares of Tapestry in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research report on Friday. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $113.35.

Tapestry Stock Down 0.2%

Shares of NYSE TPR opened at $114.71 on Friday. Tapestry has a 52-week low of $46.77 and a 52-week high of $118.56. The firm has a fifty day moving average of $109.19 and a 200-day moving average of $93.86. The stock has a market capitalization of $23.75 billion, a PE ratio of 182.08, a P/E/G ratio of 2.76 and a beta of 1.57. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

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

Insiders Place Their Bets

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s 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 transaction, the director owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

A number of institutional investors have recently added to or reduced their stakes in TPR. Schroder Investment Management Group lifted its holdings in Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after buying an additional 3,775,593 shares in the last quarter. Norges Bank acquired a new position in Tapestry in the 2nd quarter worth $227,248,000. AQR Capital Management LLC lifted its holdings in Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock worth $311,388,000 after buying an additional 939,227 shares in the last quarter. WT Asset Management Ltd lifted its holdings in Tapestry by 140.6% in the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock worth $110,870,000 after buying an additional 920,087 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Tapestry by 2,547.4% in the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock valued at $83,917,000 after purchasing an additional 919,569 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Tapestry

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.