Wells Fargo & Company Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Key Points

• Wells Fargo raised its Tapestry price target from $150 to $155 and maintained an “overweight” rating, implying about 15.4% upside from the stock’s current price.
• Analyst sentiment is broadly positive: MarketBeat reports an average “Moderate Buy” rating and a consensus price target of $167.17.
• Tapestry topped quarterly expectations, reporting adjusted EPS of $1.82 versus $1.56 expected and revenue of $1.89 billion versus $1.85 billion expected; revenue increased 11.1% year over year.

Tapestry (NYSE:TPR - Get Free Report) had its price target boosted by Wells Fargo & Company from $150.00 to $155.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the luxury accessories retailer's stock. Wells Fargo & Company's target price would suggest a potential upside of 15.42% from the company's current price.

Several other analysts have also recently commented on TPR. Daiwa Securities Group raised Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Evercore decreased their price objective on Tapestry from $175.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, August 14th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Argus lowered their target price on Tapestry from $165.00 to $148.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Finally, UBS Group dropped their target price on Tapestry from $232.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $167.17.

Tapestry Price Performance

NYSE TPR opened at $134.29 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry has a 1 year low of $93.00 and a 1 year high of $164.80. The company has a market cap of $26.78 billion, a PE ratio of 18.42, a PEG ratio of 1.58 and a beta of 1.44. The stock's 50-day moving average price is $117.21 and its two-hundred day moving average price is $136.93.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.85 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the company posted $1.38 earnings per share. On average, analysts predict that Tapestry will post 7.95 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Joanne Crevoiserat sold 27,761 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the sale, the insider owned 21,136 shares of the company's stock, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.28% of the company's stock.

Institutional Investors Weigh In On Tapestry

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Tapestry in the second quarter worth $2,610,995,000. Bank of America Corp DE bought a new stake in Tapestry during the second quarter valued at $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tapestry by 53.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer's stock valued at $317,586,000 after buying an additional 758,915 shares during the period. Amundi grew its position in Tapestry by 96.0% during the first quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer's stock worth $249,751,000 after buying an additional 866,969 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Tapestry during the second quarter worth about $175,291,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Tapestry

Here are the key news stories impacting Tapestry this week:

• Positive Sentiment: Fiscal Q1 adjusted EPS was $1.82, topping the $1.56 consensus, while revenue of $1.89 billion exceeded estimates of $1.85 billion and rose 11.1% year over year. Tapestry also raised its fiscal 2027 outlook. Tapestry Q1 results and outlook
• Positive Sentiment: Coach sales momentum was a key driver, with reports highlighting strong appeal among younger shoppers. CEO commentary also pointed to resilient U.S. consumers as the company enters the holiday season. Reuters report on Coach demand and forecasts
• Positive Sentiment: The board declared a quarterly dividend of $0.4625 per share, or $1.85 annualized. Shares of record on December 4 are scheduled to receive payment on December 21. Company results and dividend announcement

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company's portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women's footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.