Tapestry (NYSE:TPR) Downgraded by Wall Street Zen to Buy

Tapestry (NYSE:TPR) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday.

Several other analysts have also issued reports on TPR. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Barclays set a $179.00 price target on Tapestry and gave the stock an “overweight” rating in a research note on Friday, February 6th. Telsey Advisory Group lifted their price objective on Tapestry to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. Finally, UBS Group reaffirmed a “neutral” rating and set a $141.00 price objective on shares of Tapestry in a report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Tapestry Stock Down 3.7%

Tapestry stock opened at $144.10 on Friday. The firm has a 50 day moving average price of $140.38 and a 200-day moving average price of $121.50. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. Tapestry has a twelve month low of $58.39 and a twelve month high of $161.97. The company has a market capitalization of $29.17 billion, a P/E ratio of 59.55, a P/E/G ratio of 1.73 and a beta of 1.55.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. Tapestry’s revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities analysts predict that Tapestry will post 4.91 EPS for the current year.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at approximately $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the transaction, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This represents a 25.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 164,956 shares of company stock valued at $25,297,262. Company insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TPR. Schroder Investment Management Group boosted its stake in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after buying an additional 4,500,850 shares during the period. Norges Bank bought a new position in Tapestry in the 4th quarter worth about $345,349,000. Wellington Management Group LLP raised its holdings in shares of Tapestry by 632.3% in the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after acquiring an additional 2,043,353 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after acquiring an additional 1,750,566 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after acquiring an additional 1,494,193 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

About Tapestry

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.