BTIG Research Reiterates "Buy" Rating for Tapestry (NYSE:TPR)

Key Points

• BTIG Research reiterated a “Buy” rating on Tapestry and kept a $180 price target, implying about 23.8% upside from the prior close.
• Tapestry also has broad analyst support, with several firms recently raising or affirming bullish ratings; the stock’s consensus view is a Moderate Buy with an average price target of $161.22.
• The company reported strong quarterly results, posting $1.66 EPS versus the $1.30 estimate and $1.92 billion in revenue, while revenue rose 21.2% year over year.

Tapestry (NYSE:TPR - Get Free Report)'s stock had its "buy" rating reiterated by BTIG Research in a note issued to investors on Wednesday,Benzinga reports. They currently have a $180.00 price objective on the luxury accessories retailer's stock. BTIG Research's price target suggests a potential upside of 23.78% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein restated an "outperform" rating and issued a $180.00 price target on shares of Tapestry in a research note on Tuesday, June 2nd. UBS Group upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $142.00 to $187.00 in a research report on Friday, May 8th. Robert W. Baird increased their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $165.00 price target on shares of Tapestry in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.22.

Tapestry Stock Up 3.2%

Shares of TPR opened at $145.42 on Wednesday. The firm has a 50 day simple moving average of $142.02 and a two-hundred day simple moving average of $136.98. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry has a one year low of $78.59 and a one year high of $161.97. The company has a market cap of $29.38 billion, a P/E ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the business posted $1.03 EPS. The company's revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts forecast that Tapestry will post 6.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the transaction, the chief executive officer owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction 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, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer's stock worth $1,223,795,000 after acquiring an additional 348,334 shares during the period. Schroder Investment Management Group increased its position in Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares during the period. Geode Capital Management LLC raised its holdings in Tapestry by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock worth $753,482,000 after purchasing an additional 203,764 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Tapestry by 9.3% in the 1st quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer's stock worth $711,467,000 after purchasing an additional 429,338 shares during the period. Finally, AQR Capital Management LLC boosted its stake 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 valued at $487,708,000 after purchasing an additional 760,646 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

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.

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