Tapestry (NYSE:TPR) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Tapestry (NYSE:TPR) in a research report sent to investors on Friday,Benzinga reports. Telsey Advisory Group currently has a $150.00 target price on the luxury accessories retailer’s stock.

Several other research firms have also issued reports on TPR. Citigroup increased their price objective on Tapestry from $124.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Robert W. Baird set a $140.00 target price on shares of Tapestry in a research report on Wednesday, December 17th. Guggenheim began coverage on shares of Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Morgan Stanley raised their price objective on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Evercore ISI increased their price target on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.95.

Tapestry Trading Down 0.4%

Shares of Tapestry stock opened at $126.81 on Friday. Tapestry has a 52-week low of $58.39 and a 52-week high of $136.04. The firm has a market capitalization of $25.95 billion, a PE ratio of 113.23, a price-to-earnings-growth ratio of 2.18 and a beta of 1.63. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93. The company’s fifty day moving average price is $124.65 and its two-hundred day moving average price is $113.74.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts expect that Tapestry will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.3%. Tapestry’s dividend payout ratio is currently 142.86%.

Tapestry declared that its board has initiated a stock repurchase program on Thursday, November 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, CFO Scott A. Roe sold 18,794 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the completion of the sale, the chief financial officer owned 148,149 shares in the company, valued at $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the transaction, the chief executive officer owned 667,233 shares in the company, valued at approximately $70,266,307.23. This represents a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tapestry

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Tapestry by 2.4% in the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after acquiring an additional 606,686 shares during the last quarter. State Street Corp boosted its position in shares of Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after purchasing an additional 158,782 shares during the period. SRS Investment Management LLC increased its holdings in 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 last quarter. Finally, Schroder Investment Management Group lifted its stake in Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock valued at $549,046,000 after buying an additional 846,553 shares during the period. Institutional investors and hedge funds 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.