Tapestry (NYSE:TPR) Cut to Buy at Wall Street Zen

Tapestry (NYSE:TPR) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

A number of other research analysts also recently commented on TPR. Telsey Advisory Group raised their target price on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Robert W. Baird set a $160.00 price objective on shares of Tapestry in a research note on Friday, February 6th. Wells Fargo & Company lifted their price objective on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 6th. BNP Paribas Exane began coverage on shares of Tapestry in a research note on Friday, February 13th. They issued an “outperform” rating and a $176.00 price objective for the company. Finally, Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $151.06.

Tapestry Stock Up 2.3%

Shares of NYSE:TPR opened at $144.15 on Tuesday. The firm has a market capitalization of $29.18 billion, a PE ratio of 59.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.55. The business has a 50 day simple moving average of $143.13 and a two-hundred day simple moving average of $124.90. Tapestry has a 1 year low of $58.39 and a 1 year high of $161.97. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities analysts predict that Tapestry will post 4.91 EPS for the current year.

Insider Buying and Selling

In related news, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total value of $1,426,412.92. Following the completion of the transaction, the insider owned 26,942 shares in the company, valued at $4,192,714.04. The trade was a 25.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 164,956 shares of company stock valued at $25,297,262 in the last three months. 1.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tapestry

A number of hedge funds have recently made changes to their positions in TPR. Cloud Capital Management LLC purchased a new stake in Tapestry in the 3rd quarter valued at about $26,000. Vestor Capital LLC acquired a new position in Tapestry in the second quarter valued at about $27,000. Acumen Wealth Advisors LLC purchased a new position in Tapestry during the fourth quarter worth about $28,000. Triumph Capital Management acquired a new stake in shares of Tapestry during the third quarter valued at about $29,000. Finally, Steph & Co. increased its position in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after acquiring an additional 130 shares during the last quarter. 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.