Weekly Investment Analysts’ Ratings Changes for Tapestry (TPR)

Tapestry (NYSE: TPR) has recently received a number of price target changes and ratings updates:

• 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.
• 9/25/2024 – Tapestry was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/17/2024 – Tapestry was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Tapestry Trading Up 0.2 %

Shares of Tapestry stock traded up $0.10 during trading hours on Wednesday, reaching $51.27. The stock had a trading volume of 2,115,383 shares, compared to its average volume of 3,302,308. The company has a current ratio of 4.93, a quick ratio of 4.38 and a debt-to-equity ratio of 2.35. Tapestry, Inc. has a 1 year low of $28.97 and a 1 year high of $52.76. The firm has a market capitalization of $11.95 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.78 and a beta of 1.53. The firm has a 50 day simple moving average of $45.68 and a two-hundred day simple moving average of $42.67.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 15th. The luxury accessories retailer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.04. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Tapestry had a return on equity of 36.26% and a net margin of 12.12%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.55 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, December 6th. Tapestry’s payout ratio is currently 40.46%.

Institutional Trading of Tapestry

Several hedge funds have recently added to or reduced their stakes in TPR. Brooklyn Investment Group acquired a new position in shares of Tapestry in the 3rd quarter worth $47,000. The Manufacturers Life Insurance Company boosted its position in Tapestry by 0.4% during the third quarter. The Manufacturers Life Insurance Company now owns 182,432 shares of the luxury accessories retailer’s stock valued at $8,571,000 after purchasing an additional 711 shares during the last quarter. Bank of Montreal Can boosted its position in Tapestry by 76.6% during the third quarter. Bank of Montreal Can now owns 1,244,070 shares of the luxury accessories retailer’s stock valued at $59,641,000 after purchasing an additional 539,793 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Tapestry by 7.3% in the third quarter. Truvestments Capital LLC now owns 23,345 shares of the luxury accessories retailer’s stock worth $1,097,000 after buying an additional 1,581 shares during the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Tapestry by 6.7% in the third quarter. Independent Advisor Alliance now owns 6,694 shares of the luxury accessories retailer’s stock worth $314,000 after buying an additional 419 shares during the last quarter. Institutional investors 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.