Tapestry (NYSE:TPR) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Tapestry (NYSE:TPR) from a strong-buy rating to a buy rating in a report released on Sunday morning.

A number of other equities research analysts also recently issued reports on the stock. Evercore boosted their target price on shares of Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. BNP Paribas Exane initiated coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price target on the stock. Argus raised shares of Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. Robert W. Baird set a $160.00 target price on Tapestry in a research report on Friday, February 6th. Finally, Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Two 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Tapestry Stock Performance

NYSE TPR opened at $148.20 on Friday. The business’s 50-day moving average price is $141.06 and its 200 day moving average price is $122.34. Tapestry has a twelve month low of $58.39 and a twelve month high of $161.97. The company has a market capitalization of $30.00 billion, a PE ratio of 61.24, a price-to-earnings-growth ratio of 1.74 and a beta of 1.55. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating 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 analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the business earned $2.00 EPS. The firm’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. On average, research analysts predict that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is currently 66.12%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 44,290 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total value of $6,759,539.80. Following the transaction, the chief financial officer directly owned 139,128 shares of the company’s stock, valued at $21,233,715.36. This trade represents a 24.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas Greco sold 14,245 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director owned 21,302 shares in the company, valued at approximately $3,289,880.88. This represents a 40.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 164,956 shares of company stock worth $25,297,262. Corporate insiders own 1.32% of the company’s stock.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently modified their holdings of TPR. Vanguard Group Inc. boosted its holdings in Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after acquiring an additional 606,686 shares during the period. State Street Corp raised its stake in shares of Tapestry by 3.8% during 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 purchasing an additional 348,334 shares during the period. Schroder Investment Management Group lifted its position in shares of 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 purchasing an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tapestry by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock valued at $753,482,000 after purchasing an additional 203,764 shares during the period. Finally, SRS Investment Management LLC boosted its stake in shares of Tapestry by 12.4% in the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after purchasing an additional 589,000 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.