Jefferies Financial Group Forecasts Strong Price Appreciation for Tapestry (NYSE:TPR) Stock

Key Points

• Jefferies Financial Group has raised its price target for Tapestry (NYSE: TPR) from $125.00 to $135.00, indicating a potential upside of 16.59% from the current stock price.
• Multiple analysts have recently provided updated ratings for Tapestry, with the average rating being "Moderate Buy" and an average price target of $113.35.
• Tapestry reported a quarterly earnings per share of $1.04, exceeding estimates and marking an 8.3% year-over-year revenue growth to $1.72 billion.

Tapestry (NYSE:TPR - Get Free Report) had its price objective raised by research analysts at Jefferies Financial Group from $125.00 to $135.00 in a research note issued on Thursday, Marketbeat reports. The brokerage currently has a "buy" rating on the luxury accessories retailer's stock. Jefferies Financial Group's price target indicates a potential upside of 16.59% from the company's previous close.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. The Goldman Sachs Group boosted their price target on shares of Tapestry from $116.00 to $130.00 and gave the company a "buy" rating in a research note on Monday, October 6th. UBS Group reduced their price target on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Evercore ISI cut their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Finally, Raymond James Financial upped their target price on shares of Tapestry from $115.00 to $130.00 and gave the stock an "outperform" rating in a research note on Tuesday. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $113.35.

Tapestry Price Performance

Tapestry stock traded up $0.46 during mid-day trading on Thursday, hitting $115.79. The stock had a trading volume of 927,566 shares, compared to its average volume of 4,552,805. The firm's 50 day moving average is $108.54 and its 200 day moving average is $93.12. Tapestry has a one year low of $43.58 and a one year high of $118.56. The firm has a market capitalization of $23.97 billion, a P/E ratio of 183.65, a P/E/G ratio of 2.82 and a beta of 1.57. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

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

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the director owned 8,153 shares of the company's stock, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.32% of the company's stock.

Hedge Funds Weigh In On Tapestry

Several institutional investors have recently modified their holdings of the company. Schroder Investment Management Group lifted its holdings in Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer's stock valued at $351,487,000 after acquiring an additional 3,775,593 shares during the last quarter. Norges Bank acquired a new position in Tapestry in the second quarter worth approximately $227,248,000. AQR Capital Management LLC grew its holdings 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 valued at $311,388,000 after purchasing an additional 939,227 shares during the last quarter. WT Asset Management Ltd grew its holdings in Tapestry by 140.6% during the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock valued at $110,870,000 after purchasing an additional 920,087 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Tapestry by 2,547.4% in the second quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer's stock valued at $83,917,000 after acquiring an additional 919,569 shares during the period. Institutional investors own 90.77% of the company's stock.

Tapestry Company Profile

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.

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