Tapestry (NYSE:TPR) Price Target Raised to $150.00 at Evercore ISI

Tapestry (NYSE:TPR) had its price target increased by Evercore ISI from $129.00 to $150.00 in a research note released on Tuesday, Marketbeat.com reports. The brokerage currently has an outperform rating on the luxury accessories retailer’s stock.

Several other equities analysts have also recently weighed in on TPR. Raymond James Financial lifted their price objective on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Morgan Stanley raised their target price on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. UBS Group upped their price target on shares of Tapestry from $105.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. Finally, BTIG Research assumed coverage on shares of Tapestry in a research report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.05.

Tapestry Stock Down 2.1%

Shares of NYSE TPR opened at $126.98 on Tuesday. Tapestry has a 52-week low of $58.39 and a 52-week high of $136.04. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The stock has a market cap of $25.99 billion, a P/E ratio of 113.38, a P/E/G ratio of 2.22 and a beta of 1.63. The firm has a 50 day moving average price of $125.51 and a 200 day moving average price of $114.28.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Analysts expect that Tapestry will post 4.91 EPS for the current year.

Tapestry announced that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.3%. Tapestry’s payout ratio is 142.86%.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total value of $2,982,070.00. Following the completion of the transaction, the chief executive officer directly owned 86,736 shares in the company, valued at $8,919,062.88. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the transaction, the insider directly owned 55,354 shares in the company, valued at $5,673,785. This trade represents a 31.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,485 shares of company stock worth $12,034,058 over the last three months. Company insiders own 1.32% of the company’s stock.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently added to or reduced their stakes in the company. Great Diamond Partners LLC bought a new stake in Tapestry during the 3rd quarter worth $2,395,000. Stevens Capital Partners bought a new position in Tapestry in the third quarter valued at about $8,880,000. Three Seasons Wealth LLC acquired a new stake in shares of Tapestry during the third quarter valued at about $1,882,000. Fisher Asset Management LLC grew its holdings in shares of Tapestry by 5,027.6% during the second quarter. Fisher Asset Management LLC now owns 499,988 shares of the luxury accessories retailer’s stock worth $43,904,000 after purchasing an additional 490,237 shares during the last quarter. Finally, Abacus FCF Advisors LLC bought a new stake in shares of Tapestry during the third quarter worth about $17,332,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.