Tapestry, Inc. (NYSE:TPR) Stock Has Average Target Price of $167.26 According to Brokerages

Key Points

• Analyst sentiment is broadly positive: 22 brokerages rate Tapestry “Moderate Buy” overall, with an average 12-month price target of $167.26.
• Quarterly results topped expectations: Tapestry reported $1.82 in earnings per share versus a $1.56 consensus estimate, while revenue rose 11.1% year over year to $1.89 billion.
• Recent analyst price-target changes were mixed, ranging from Barclays raising its target to $195 to Jefferies cutting its target to $125. Company insiders, including the CFO, also reported substantial share sales.

Shares of Tapestry, Inc. (NYSE:TPR - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-two brokerages that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $167.26.

TPR has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on shares of Tapestry from $144.00 to $125.00 and set a "hold" rating on the stock in a research report on Wednesday, October 21st. Argus cut their price target on shares of Tapestry from $165.00 to $148.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Raymond James Financial reduced their price objective on shares of Tapestry from $165.00 to $140.00 and set an "outperform" rating for the company in a research note on Friday, October 16th. Daiwa Securities Group raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Finally, Barclays boosted their price objective on shares of Tapestry from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, November 6th.

Tapestry Stock Performance

Shares of TPR stock traded down $0.30 during trading hours on Friday, reaching $132.33. 2,238,048 shares of the company's stock were exchanged, compared to its average volume of 2,845,041. The company has a debt-to-equity ratio of 5.70, a current ratio of 1.24 and a quick ratio of 0.76. The company's 50 day moving average is $118.48 and its two-hundred day moving average is $137.07. The company has a market cap of $26.00 billion, a P/E ratio of 17.03, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. Tapestry has a 1 year low of $99.00 and a 1 year high of $164.80.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The luxury accessories retailer reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.56 by $0.26. Tapestry had a return on equity of 274.20% and a net margin of 19.68%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the business earned $1.38 earnings per share. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Tapestry will post 8.31 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Stockholders of record on Friday, December 4th will be given 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 is Friday, December 4th. Tapestry's dividend payout ratio (DPR) is presently 23.81%.

Insider Buying and Selling at Tapestry

In other news, insider Denise Kulikowsky sold 11,244 shares of the business's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $135.04, for a total transaction of $1,518,389.76. Following the sale, the insider owned 15,721 shares of the company's stock, valued at $2,122,963.84. The trade was a 41.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott Roe sold 54,644 shares of the company's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $135.50, for a total value of $7,404,262.00. Following the completion of the sale, the chief financial officer owned 76,161 shares in the company, valued at approximately $10,319,815.50. This represents a 41.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 168,409 shares of company stock worth $22,501,876. Corporate insiders own 1.28% of the company's stock.

Institutional Trading of Tapestry

Several large investors have recently bought and sold shares of the company. Eastern Bank raised its position in Tapestry by 24.4% in the second quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer's stock valued at $57,000 after purchasing an additional 77 shares during the last quarter. NewEdge Wealth LLC boosted its stake in shares of Tapestry by 2.7% during the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer's stock valued at $450,000 after purchasing an additional 85 shares in the last quarter. Ashton Thomas Securities LLC grew its holdings in shares of Tapestry by 4.7% during the first quarter. Ashton Thomas Securities LLC now owns 2,002 shares of the luxury accessories retailer's stock worth $283,000 after purchasing an additional 90 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Tapestry by 0.6% during the third quarter. Allworth Financial LP now owns 15,429 shares of the luxury accessories retailer's stock worth $1,775,000 after purchasing an additional 95 shares during the last quarter. Finally, CX Institutional grew its holdings in shares of Tapestry by 1.3% during the third quarter. CX Institutional now owns 7,800 shares of the luxury accessories retailer's stock worth $897,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry News Summary

Here's some of the latest news about TPR:

• Positive Sentiment: TD Cowen reaffirmed its Buy rating on Tapestry, signaling continued analyst confidence. TD Cowen Reaffirms Their Buy Rating on Tapestry
• Positive Sentiment: Cantor Fitzgerald initiated coverage with an Overweight rating and a $159 price target, providing another bullish analyst view. Cantor Fitzgerald Begins Coverage on Tapestry
• Negative Sentiment: CEO Joanne Crevoiserat sold 27,762 shares for about $3.68 million, while CFO Scott Roe sold 54,644 shares for about $7.40 million. Executive selling can weigh on sentiment; the CEO’s transaction was made under a prearranged Rule 10b5-1 plan, and she retained a substantial stake. Tapestry CEO Sells Stock

About Tapestry

Tapestry, Inc. is a global fashion company whose portfolio includes Coach and Kate Spade New York. The company designs and sells handbags, accessories, footwear, apparel, jewelry and other lifestyle products through retail stores, e-commerce and wholesale partners. Based in New York, Tapestry serves customers in North America and international markets, including Asia and Europe. Its brands reach consumers through company-operated stores and digital channels as well as select department stores and other retail partners.

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.