Tapestry (NYSE:TPR) Posts Earnings Results

Tapestry (NYSE:TPR) posted its quarterly earnings results on Thursday. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13, Zacks reports. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.84 EPS. Tapestry updated its FY 2026 guidance to 5.450-5.600 EPS.

Tapestry Price Performance

Shares of Tapestry stock traded up $2.38 on Friday, hitting $101.19. The company’s stock had a trading volume of 1,575,271 shares, compared to its average volume of 4,495,852. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 160.70, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. The firm has a fifty day moving average price of $110.91 and a 200-day moving average price of $96.89. Tapestry has a 1 year low of $49.84 and a 1 year high of $118.56.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Wells Fargo & Company raised their target price on shares of Tapestry from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Cowen reiterated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research note on Friday. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.35.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.32% of the company’s stock.

Institutional Trading of Tapestry

Several hedge funds have recently made changes to their positions in TPR. MUFG Securities EMEA plc purchased a new stake in Tapestry during the second quarter worth approximately $54,000. Voya Financial Advisors Inc. acquired a new stake in Tapestry during the second quarter worth approximately $203,000. Benjamin Edwards Inc. purchased a new stake in shares of Tapestry during the 2nd quarter worth approximately $233,000. Curi Capital LLC acquired a new position in shares of Tapestry in the 2nd quarter valued at $239,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Tapestry in the 2nd quarter valued at $265,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry declared that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.