Tapestry (NYSE:TPR) Hits New 1-Year High - Here's What Happened

Key Points

• Tapestry, Inc. shares hit a new 52-week high of $118.37, reflecting strong investor interest with 225,394 shares traded.
• Equity analysts have increased their price targets for Tapestry, with Wells Fargo raising it to $120.00 and JPMorgan to $142.00, indicating a positive outlook.
• The company recently declared a quarterly dividend of $0.40, an increase from $0.35, representing an annual yield of 1.4% with a payout ratio of 253.97%.

Tapestry, Inc. (NYSE:TPR - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $117.92 and last traded at $118.37, with a volume of 225394 shares changing hands. The stock had previously closed at $116.26.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. boosted their price target on Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Argus boosted their price target on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Morgan Stanley restated an "overweight" rating on shares of Tapestry in a research report on Thursday, September 11th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and set a $112.00 target price on shares of Tapestry in a research report on Friday, August 15th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

Tapestry Stock Up 0.7%

The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $24.23 billion, a PE ratio of 185.80, a price-to-earnings-growth ratio of 2.75 and a beta of 1.57. The firm has a 50-day moving average of $107.81 and a two-hundred day moving average of $91.32.

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

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.4%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 253.97%.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company's stock, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tapestry

Several large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new position in Tapestry during the 1st quarter worth approximately $1,708,000. Nisa Investment Advisors LLC boosted its holdings in Tapestry by 16.7% in the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock worth $4,460,000 after purchasing an additional 9,049 shares during the period. Jump Financial LLC boosted its holdings in Tapestry by 1,025.9% in the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Allworth Financial LP boosted its holdings in Tapestry by 689.0% in the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock worth $913,000 after purchasing an additional 11,679 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Tapestry in the first quarter worth $1,476,000. 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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