Tapestry (NYSE:TPR) Stock Rating Lowered by Zacks Research

Tapestry (NYSE:TPR) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

TPR has been the topic of several other reports. Morgan Stanley restated an “overweight” rating and issued a $164.00 price objective on shares of Tapestry in a research report on Monday, July 6th. JPMorgan Chase & Co. increased their target price on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Sanford C. Bernstein reissued an “outperform” rating and set a $180.00 target price on shares of Tapestry in a research note on Tuesday, June 2nd. Barclays boosted their price target on Tapestry from $179.00 to $182.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Citigroup upped their price target on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.06.

Tapestry Stock Down 3.4%

Shares of TPR stock opened at $138.78 on Wednesday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry has a one year low of $92.62 and a one year high of $161.97. The company’s fifty day moving average price is $142.18 and its 200-day moving average price is $142.49. The company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 1.32 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. Tapestry’s quarterly revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts expect that Tapestry will post 6.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the completion of the transaction, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was 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 of the company’s stock, valued at approximately $17,258,585.16. This 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Tapestry

Several large investors have recently modified their holdings of TPR. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tapestry in the fourth quarter worth approximately $8,109,000. Norges Bank bought a new stake in shares of Tapestry during the 4th quarter worth approximately $345,349,000. Keystone Investors PTE Ltd. boosted its holdings in Tapestry by 17.4% during the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after acquiring an additional 9,303 shares during the period. Aberdeen Group plc grew its position in Tapestry by 34.7% in the 4th quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer’s stock valued at $6,078,000 after acquiring an additional 12,251 shares during the last quarter. Finally, SEB Asset Management AB bought a new position in Tapestry in the 1st quarter valued at $59,525,000. Institutional investors 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.