Tapestry (NYSE:TPR) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Tapestry (NYSE:TPR) from a strong-buy rating to a buy rating in a research note published on Tuesday morning.

A number of other research firms have also recently commented on TPR. The Goldman Sachs Group set a $166.00 price objective on Tapestry in a research report on Friday, February 6th. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price on the stock. Robert W. Baird set a $160.00 price target on shares of Tapestry in a research note on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Finally, Telsey Advisory Group boosted their price objective on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Two research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $151.06.

Tapestry Price Performance

TPR stock opened at $143.93 on Tuesday. The stock’s 50 day moving average price is $143.32 and its 200 day moving average price is $125.18. The firm has a market cap of $29.14 billion, a P/E ratio of 59.48, a PEG ratio of 1.73 and a beta of 1.55. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. Tapestry has a 1 year low of $58.39 and a 1 year high of $161.97.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the business posted $2.00 earnings per share. Tapestry’s revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, sell-side analysts expect that Tapestry will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s dividend payout ratio is currently 66.12%.

Insider Buying and Selling at Tapestry

In related 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 sale, the chief executive officer directly owned 671,193 shares of the company’s stock, 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 is available at the SEC website. Also, CFO Scott A. Roe sold 44,290 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total transaction of $6,759,539.80. Following the completion of the sale, the chief financial officer owned 139,128 shares of the company’s stock, valued at approximately $21,233,715.36. The trade was a 24.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 164,956 shares of company stock worth $25,297,262. 1.32% of the stock is currently owned by insiders.

Institutional Trading of Tapestry

Several institutional investors have recently made changes to their positions in TPR. State Street Corp boosted its holdings in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after acquiring an additional 348,334 shares during the last quarter. Schroder Investment Management Group increased 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 worth $1,194,678,000 after acquiring an additional 4,500,850 shares during the last quarter. Geode Capital Management LLC increased its stake in Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after acquiring an additional 203,764 shares during the last quarter. SRS Investment Management LLC raised its holdings in shares of Tapestry by 12.4% in the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after purchasing an additional 589,000 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after purchasing an additional 760,646 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.