JPMorgan Chase & Co. Issues Positive Forecast for Tapestry (NYSE:TPR) Stock Price

Tapestry (NYSE:TPR) had its target price increased by JPMorgan Chase & Co. from $200.00 to $205.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the luxury accessories retailer’s stock.

Other equities analysts have also recently issued reports about the stock. Raymond James Financial restated an “outperform” rating and issued a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Citigroup boosted their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Robert W. Baird boosted their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, BTIG Research reissued a “buy” rating and set a $180.00 target price on shares of Tapestry in a report on Wednesday. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $165.12.

Tapestry Trading Up 1.5%

TPR opened at $147.58 on Friday. The firm’s fifty day moving average is $142.25 and its two-hundred day moving average is $137.60. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The firm has a market cap of $29.82 billion, a PE ratio of 47.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. Tapestry has a twelve month low of $78.59 and a twelve month high of $161.97.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts anticipate that Tapestry will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is 51.28%.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated 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 transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tapestry

Institutional investors have recently made changes to their positions in the company. DV Trading LLC acquired a new position in Tapestry in the 1st quarter valued at $240,000. NewEdge Advisors LLC increased its position in Tapestry by 45.7% during the first quarter. NewEdge Advisors LLC now owns 69,817 shares of the luxury accessories retailer’s stock worth $9,852,000 after buying an additional 21,883 shares during the period. Keel Point LLC acquired a new position in shares of Tapestry in the first quarter valued at approximately $222,000. Vestor Capital LLC boosted its stake in shares of Tapestry by 69.0% in the first quarter. Vestor Capital LLC now owns 507 shares of the luxury accessories retailer’s stock valued at $72,000 after buying an additional 207 shares in the last quarter. Finally, Groupe la Francaise purchased a new stake in shares of Tapestry in the first quarter valued at approximately $10,430,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.