Tapestry (NYSE:TPR) Updates FY 2026 Earnings Guidance

Key Points

• Tapestry issued FY 2026 earnings guidance, projecting earnings per share between $5.300 and $5.450, exceeding the consensus estimate of $5.088.
• The company also provided revenue guidance of $7.2 billion, surpassing the consensus estimate of $7.0 billion.
• Analysts remain optimistic, with 17 buy ratings and a target price increase from firms like JPMorgan, indicating strong market confidence in Tapestry.

Tapestry (NYSE:TPR - Get Free Report) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.300-5.450 for the period, compared to the consensus estimate of 5.088. The company issued revenue guidance of $7.2 billion-$7.2 billion, compared to the consensus revenue estimate of $7.0 billion.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TPR shares. Bank of America lowered Tapestry from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Evercore ISI dropped their price objective on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price objective (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Citigroup lifted their price objective on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company lifted their price objective on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Price Performance

Shares of NYSE:TPR traded up $5.21 during trading on Friday, hitting $100.90. 6,808,522 shares of the company were exchanged, compared to its average volume of 4,635,487. The company has a market capitalization of $20.96 billion, a P/E ratio of 160.16, a price-to-earnings-growth ratio of 2.06 and a beta of 1.51. Tapestry has a 1-year low of $39.10 and a 1-year high of $114.05. The business's 50 day moving average is $96.88 and its 200-day moving average is $82.73. The company has a quick ratio of 1.22, a current ratio of 1.87 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, beating analysts' consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%. Tapestry's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. Equities analysts forecast that Tapestry will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. This is an increase from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's payout ratio is currently 222.22%.

Institutional Trading of Tapestry

A number of institutional investors have recently bought and sold shares of TPR. Scopus Asset Management L.P. boosted its holdings in Tapestry by 45.0% in the second quarter. Scopus Asset Management L.P. now owns 1,238,040 shares of the luxury accessories retailer's stock worth $108,712,000 after acquiring an additional 384,040 shares in the last quarter. Ieq Capital LLC grew its stake in Tapestry by 72.4% in the 2nd quarter. Ieq Capital LLC now owns 251,161 shares of the luxury accessories retailer's stock valued at $22,054,000 after buying an additional 105,474 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Tapestry by 158.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 218,400 shares of the luxury accessories retailer's stock valued at $19,178,000 after buying an additional 134,000 shares in the last quarter. Quantinno Capital Management LP grew its stake in Tapestry by 63.8% in the 2nd quarter. Quantinno Capital Management LP now owns 150,840 shares of the luxury accessories retailer's stock valued at $13,245,000 after buying an additional 58,750 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Tapestry by 3.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 109,247 shares of the luxury accessories retailer's stock valued at $9,604,000 after buying an additional 3,641 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

About Tapestry

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.