Investment Analysts’ Weekly Ratings Changes for Tapestry (TPR)

Posted by Andrew Walz on Dec 4th, 2024

Tapestry (NYSE: TPR) recently received a number of ratings updates from brokerages and research firms:

11/20/2024 – Tapestry had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $57.00 price target on the stock.
11/18/2024 – Tapestry had its price target raised by analysts at BMO Capital Markets from $55.00 to $60.00. They now have a “market perform” rating on the stock.
11/18/2024 – Tapestry was upgraded by analysts at Daiwa America to a “hold” rating.
11/15/2024 – Tapestry had its price target raised by analysts at Wells Fargo & Company from $65.00 to $75.00. They now have an “overweight” rating on the stock.
11/15/2024 – Tapestry had its price target raised by analysts at Robert W. Baird from $58.00 to $64.00. They now have an “outperform” rating on the stock.
11/15/2024 – Tapestry had its price target raised by analysts at Telsey Advisory Group from $58.00 to $67.00. They now have an “outperform” rating on the stock.
11/15/2024 – Tapestry had its price target raised by analysts at Guggenheim from $60.00 to $70.00. They now have a “buy” rating on the stock.
11/15/2024 – Tapestry had its price target raised by analysts at The Goldman Sachs Group, Inc. from $58.00 to $66.00. They now have a “buy” rating on the stock.
11/8/2024 – Tapestry had its “outperform” rating reaffirmed by analysts at Raymond James. They now have a $57.00 price target on the stock, up previously from $55.00.
11/8/2024 – Tapestry had its price target raised by analysts at Robert W. Baird from $53.00 to $58.00. They now have an “outperform” rating on the stock.
11/7/2024 – Tapestry had its “outperform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $54.00 price target on the stock.
10/29/2024 – Tapestry was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating. They now have a $52.00 price target on the stock.
10/28/2024 – Tapestry was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
10/25/2024 – Tapestry had its price target raised by analysts at JPMorgan Chase & Co. from $51.00 to $66.00. They now have an “overweight” rating on the stock.
10/25/2024 – Tapestry had its price target raised by analysts at Wells Fargo & Company from $50.00 to $65.00. They now have an “overweight” rating on the stock.
10/25/2024 – Tapestry had its price target raised by analysts at Evercore ISI from $47.00 to $63.00. They now have an “outperform” rating on the stock.
10/25/2024 – Tapestry had its price target raised by analysts at Citigroup Inc. from $49.00 to $55.00. They now have a “buy” rating on the stock.
10/25/2024 – Tapestry had its price target raised by analysts at Bank of America Co. from $52.00 to $60.00. They now have a “buy” rating on the stock.
10/21/2024 – Tapestry had its price target raised by analysts at The Goldman Sachs Group, Inc. from $47.00 to $52.00. They now have a “buy” rating on the stock.

Tapestry Stock Performance

TPR stock traded down $0.92 during trading hours on Wednesday, reaching $63.40. The stock had a trading volume of 514,742 shares, compared to its average volume of 3,444,691. The stock has a market capitalization of $14.77 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.60. The stock has a 50-day simple moving average of $50.63 and a 200 day simple moving average of $44.62. Tapestry, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $65.30. The company has a debt-to-equity ratio of 2.35, a current ratio of 4.93 and a quick ratio of 4.38.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, December 6th. Tapestry’s payout ratio is presently 40.46%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 8,872 shares of Tapestry stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.96, for a total value of $514,221.12. Following the completion of the sale, the vice president now owns 35,003 shares in the company, valued at $2,028,773.88. The trade was a 20.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tapestry

A number of institutional investors and hedge funds have recently bought and sold shares of TPR. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tapestry by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,614,558 shares of the luxury accessories retailer’s stock worth $357,732,000 after buying an additional 272,007 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Tapestry by 1.0% during the third quarter. Pacer Advisors Inc. now owns 6,078,760 shares of the luxury accessories retailer’s stock worth $285,580,000 after buying an additional 58,135 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Tapestry by 1.5% during the third quarter. Geode Capital Management LLC now owns 5,588,879 shares of the luxury accessories retailer’s stock valued at $262,156,000 after buying an additional 80,681 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Tapestry by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,551,778 shares of the luxury accessories retailer’s stock worth $151,965,000 after acquiring an additional 165,406 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Tapestry by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,732,590 shares of the luxury accessories retailer’s stock valued at $116,928,000 after purchasing an additional 46,760 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.