Tapestry, Inc. (NYSE:TPR) Stock Has Consensus Target Price of $173.56

Key Points

• Tapestry has a “Moderate Buy” consensus rating from 21 analysts, with 15 buys, four holds and two strong buys. The average 12-month price target is $173.56, versus a recent share price of $117.62.
• The company exceeded quarterly expectations, reporting $1.32 in earnings per share and $1.88 billion in revenue, while revenue increased 8.9% year over year. Tapestry also raised its quarterly dividend to $0.4625 per share, equivalent to a 1.6% annual yield.
• Institutional investors own 90.77% of the stock, with major additions from BlackRock and Bank of America. Meanwhile, CEO Joanne Crevoiserat and insider Denise Kulikowsky recently sold shares.

Tapestry, Inc. (NYSE:TPR - Get Free Report) has been given an average rating of "Moderate Buy" by the twenty-one ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $173.56.

Several research firms recently commented on TPR. Wall Street Zen lowered Tapestry from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Daiwa Securities Group raised Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Morgan Stanley dropped their price objective on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Barclays raised their price objective on shares of Tapestry from $182.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Finally, 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 report on Friday, August 14th.

Insiders Place Their Bets

In other news, insider Denise Kulikowsky sold 5,810 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the sale, the insider owned 21,136 shares of the company's stock, valued at $2,438,671.68. The trade was a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction dated Wednesday, August 19th. The shares were 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 owned 666,149 shares of the company's stock, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tapestry

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

Tapestry Price Performance

NYSE:TPR opened at $117.62 on Tuesday. The firm's fifty day moving average is $121.48 and its two-hundred day moving average is $136.36. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.52 and a beta of 1.42. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. Tapestry has a one year low of $93.00 and a one year high of $164.80.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The company's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Research analysts expect that Tapestry will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were given a dividend of $0.4625 per share. This is a boost from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 4th. Tapestry's dividend payout ratio (DPR) is 25.38%.

About Tapestry

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.

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