BTIG Research Begins Coverage on Tapestry (NYSE:TPR)

Key Points

• BTIG Research has initiated coverage on Tapestry (NYSE:TPR) with a "buy" rating for the luxury accessories retailer.
• The company's share price recently opened at $116.69, with a target price consensus of $110.00 from multiple analysts.
• In the latest quarter, Tapestry reported earnings per share (EPS) of $1.04, exceeding consensus estimates of $1.02, along with a revenue growth of 8.3% year-over-year.

Research analysts at BTIG Research began coverage on shares of Tapestry (NYSE:TPR - Get Free Report) in a report issued on Tuesday, Marketbeat.com reports. The firm set a "buy" rating on the luxury accessories retailer's stock.

Several other equities research analysts also recently commented on TPR. Argus upped their target price on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Wall Street Zen downgraded shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Monday, September 22nd. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 target price (up previously from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tapestry in a research note on Wednesday, October 8th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Tapestry in a research note on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $110.00.

Tapestry Price Performance

Shares of Tapestry stock opened at $116.69 on Tuesday. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The firm's 50-day simple moving average is $107.90 and its 200-day simple moving average is $91.50. Tapestry has a twelve month low of $43.07 and a twelve month high of $118.56. The firm has a market cap of $24.16 billion, a P/E ratio of 185.22, a price-to-earnings-growth ratio of 2.80 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted $0.92 EPS. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts expect that Tapestry will post 4.91 EPS for the current fiscal year.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Institutional Trading of Tapestry

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Tapestry by 2.4% during 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 buying an additional 606,686 shares during the last quarter. Geode Capital Management LLC increased its position in 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 acquiring an additional 158,782 shares during the period. SRS Investment Management LLC increased its position in Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer's stock worth $468,275,000 after acquiring an additional 589,000 shares during the period. Schroder Investment Management Group increased its position in Tapestry by 1,661.6% during the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer's stock worth $351,487,000 after acquiring an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC increased its position in Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer's stock worth $311,388,000 after acquiring an additional 939,227 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.