Tapestry (NYSE:TPR) Upgraded at Zacks Research

Zacks Research upgraded shares of Tapestry (NYSE:TPR) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Argus upgraded shares of Tapestry to a “strong-buy” rating in a report on Friday, January 16th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley lifted their target price on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Telsey Advisory Group increased their target price on Tapestry to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Tapestry Stock Performance

NYSE:TPR opened at $154.47 on Monday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The company has a 50 day simple moving average of $129.99 and a two-hundred day simple moving average of $115.92. Tapestry has a fifty-two week low of $58.39 and a fifty-two week high of $158.20. The company has a market capitalization of $31.27 billion, a PE ratio of 63.83, a P/E/G ratio of 1.89 and a beta of 1.63.

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 business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the company posted $2.00 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Research analysts anticipate that Tapestry will post 4.91 earnings per share for the current year.

Tapestry declared that its Board of Directors has approved a share buyback program on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. Tapestry’s dividend payout ratio (DPR) is presently 66.12%.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 31,735 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the sale, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David E. Howard sold 25,029 shares of Tapestry stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the transaction, the insider directly owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. This represents a 31.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 155,300 shares of company stock worth $18,059,660 in the last ninety days. Corporate insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Steph & Co. grew its holdings in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after acquiring an additional 130 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in Tapestry during the 3rd quarter worth $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Tapestry in the 4th quarter valued at approximately $31,000. Triumph Capital Management acquired a new stake in Tapestry in the 3rd quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC boosted its position in Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 272 shares during the period. Institutional investors own 90.77% of the company’s stock.

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.