Tapestry (NYSE:TPR) Cut to Hold at Zacks Research

Zacks Research cut shares of Tapestry (NYSE:TPR) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on TPR. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research report on Tuesday, June 2nd. BTIG Research reissued a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Weiss Ratings cut Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Price Performance

Shares of NYSE TPR opened at $142.82 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The business’s 50 day moving average price is $142.46 and its two-hundred day moving average price is $142.49. The company has a market cap of $28.86 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 1.27 and a beta of 1.43. Tapestry has a twelve month low of $92.62 and a twelve month high of $161.97.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, analysts predict that Tapestry will post 6.97 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is currently 51.28%.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently bought and sold shares of the company. World Investment Advisors raised its position in shares of Tapestry by 3.6% in the 1st quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after buying an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN boosted its position in shares of Tapestry by 4.7% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock worth $222,000 after acquiring an additional 71 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Tapestry by 2.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after acquiring an additional 73 shares during the last quarter. Eastern Bank increased its stake in Tapestry by 24.4% in the second quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock valued at $57,000 after acquiring an additional 77 shares during the last quarter. Finally, Northwest Wealth Management LLC raised its position in Tapestry by 3.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock valued at $315,000 after purchasing an additional 82 shares in the last quarter. 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.