Tapestry (NYSE:TPR) Trading 4.2% Higher – What’s Next?

Shares of Tapestry, Inc. (NYSE:TPR) traded up 4.2% during mid-day trading on Tuesday . The company traded as high as $135.35 and last traded at $134.47. 896,856 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 2,427,307 shares. The stock had previously closed at $129.02.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. BTIG Research cut their price objective on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday. Morgan Stanley decreased their target price on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a report on Friday. Sanford C. Bernstein reiterated a “market perform” rating and issued a $185.00 target price (up from $180.00) on shares of Tapestry in a research report on Friday. Finally, Robert W. Baird raised their price target on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Trading Up 3.8%

The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The firm has a market cap of $26.70 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.15 and a beta of 1.43. The company has a fifty day moving average price of $146.23 and a 200-day moving average price of $144.77.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.Tapestry’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts expect that Tapestry, Inc. will post 7.88 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio is 21.95%.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction 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 $17,258,585.16. The trade was a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is currently owned by company insiders.

Institutional Trading of Tapestry

Hedge funds have recently added to or reduced their stakes in the company. Cetera Trust Company N.A purchased a new position in Tapestry in the second quarter valued at $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Tapestry during the 2nd quarter worth about $31,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Tapestry during the 4th quarter worth about $28,000. Virtus Advisers LLC acquired a new stake in shares of Tapestry during the 2nd quarter valued at about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Tapestry in the 4th quarter valued at about $32,000. 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.