Tapestry, Inc. (NYSE:TPR - Get Free Report)'s share price fell 4% on Thursday . The company traded as low as $125.82 and last traded at $125.0530. Approximately 337,365 shares traded hands during trading, a decline of 86% from the average daily volume of 2,475,212 shares. The stock had previously closed at $130.25.
Analyst Ratings Changes
A number of research firms have recently issued reports on TPR. Telsey Advisory Group raised their price target on Tapestry from $160.00 to $175.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. UBS Group increased their price objective on shares of Tapestry from $230.00 to $232.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Citigroup upped their target price on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded Tapestry from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $175.12.
View Our Latest Analysis on TPR
Tapestry Stock Down 4.4%
The company has a fifty day moving average price of $144.05 and a 200-day moving average price of $144.81. The stock has a market capitalization of $24.82 billion, a P/E ratio of 17.08, a PEG ratio of 1.65 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44.
Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the business posted $1.04 earnings per share. Tapestry's quarterly revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.
Tapestry Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. This is a positive change from Tapestry's previous quarterly dividend of $0.40. Tapestry's dividend payout ratio is currently 21.95%.
Insider Activity at Tapestry
In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.
Institutional Trading of Tapestry
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in shares of Tapestry by 14,151.5% in the second quarter. California State Teachers Retirement System now owns 45,170,672 shares of the luxury accessories retailer's stock worth $6,612,083,000 after buying an additional 44,853,719 shares during the period. BlackRock Inc. bought a new stake in shares of Tapestry during the second quarter worth $2,610,995,000. Bank of America Corp DE purchased a new stake in shares of Tapestry during the second quarter valued at $771,309,000. Schroder Investment Management Group grew its holdings in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock worth $1,194,678,000 after purchasing an additional 4,500,850 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Tapestry in the fourth quarter worth about $345,349,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
Tapestry Company Profile
(
Get Free Report)
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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