Tapestry (NYSE:TPR) Price Target Raised to $205.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised Tapestry’s price target from $200 to $205 and kept an overweight rating, implying about 38.9% upside from the current price.
• Tapestry’s latest quarter beat expectations, with EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected, while revenue rose 21.2% year over year.
• Shares traded at $147.61 on Friday after the report, and the company also saw recent insider selling by CEO Todd Kahn and CEO Joanne C. Crevoiserat.

Tapestry (NYSE:TPR - Get Free Report) had its price target upped by analysts at JPMorgan Chase & Co. from $200.00 to $205.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the luxury accessories retailer's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 38.88% from the company's current price.

A number of other equities research analysts have also recently weighed in on the company. Argus set a $165.00 price target on Tapestry in a report on Thursday, March 12th. Citigroup lifted their price target on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, UBS Group upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and raised their price objective for the company from $142.00 to $187.00 in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $165.12.

Tapestry Stock Performance

NYSE TPR traded up $2.22 during trading hours on Friday, reaching $147.61. The company's stock had a trading volume of 381,555 shares, compared to its average volume of 2,273,357. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The business has a 50-day simple moving average of $142.18 and a 200 day simple moving average of $137.53. Tapestry has a 52 week low of $78.59 and a 52 week high of $161.97. The stock has a market cap of $29.82 billion, a PE ratio of 47.39, a PEG ratio of 1.43 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter last year, the company posted $1.03 earnings per share. Tapestry's revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts predict that Tapestry will post 6.95 earnings per share for the current fiscal year.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.

Institutional Investors Weigh In On Tapestry

Institutional investors and hedge funds have recently modified their holdings of the business. DV Trading LLC acquired a new position in Tapestry during the 1st quarter worth $240,000. NewEdge Advisors LLC lifted its position in Tapestry by 45.7% during the 1st quarter. NewEdge Advisors LLC now owns 69,817 shares of the luxury accessories retailer's stock worth $9,852,000 after acquiring an additional 21,883 shares during the last quarter. Keel Point LLC acquired a new position in Tapestry during the 1st quarter worth $222,000. Vestor Capital LLC lifted its position in Tapestry by 69.0% during the 1st quarter. Vestor Capital LLC now owns 507 shares of the luxury accessories retailer's stock worth $72,000 after acquiring an additional 207 shares during the last quarter. Finally, Groupe la Francaise acquired a new position in Tapestry during the 1st quarter worth $10,430,000. Institutional investors and hedge funds own 90.77% of the company's stock.

About Tapestry

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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