Analysts’ Weekly Ratings Updates for Tapestry (TPR)

Posted by on May 27th, 2022

A number of research firms have changed their ratings and price targets for Tapestry (NYSE: TPR):

  • 5/26/2022 – Tapestry was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/20/2022 – Tapestry was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 5/16/2022 – Tapestry had its price target lowered by analysts at Barclays PLC from $53.00 to $39.00. They now have a “na” rating on the stock.
  • 5/16/2022 – Tapestry was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 5/13/2022 – Tapestry had its price target lowered by analysts at Cowen Inc. from $56.00 to $40.00.
  • 5/13/2022 – Tapestry had its price target lowered by analysts at Cowen Inc from $56.00 to $40.00.
  • 5/13/2022 – Tapestry had its price target lowered by analysts at Robert W. Baird from $55.00 to $45.00.
  • 5/13/2022 – Tapestry had its price target lowered by analysts at UBS Group AG from $48.00 to $36.00.
  • 5/13/2022 – Tapestry had its price target lowered by analysts at Credit Suisse Group AG from $67.00 to $53.00.
  • 5/13/2022 – Tapestry had its price target lowered by analysts at Citigroup Inc. from $50.00 to $46.00.
  • 4/19/2022 – Tapestry had its price target raised by analysts at Barclays PLC from $51.00 to $53.00. They now have an “overweight” rating on the stock.
  • 4/5/2022 – Tapestry had its price target lowered by analysts at Wells Fargo & Company from $58.00 to $48.00. They now have an “overweight” rating on the stock.
  • 3/31/2022 – Tapestry is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Shares of NYSE:TPR opened at $33.40 on Friday. The firm has a fifty day moving average of $33.76 and a two-hundred day moving average of $37.91. The firm has a market capitalization of $8.41 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. Tapestry, Inc. has a 12-month low of $26.39 and a 12-month high of $47.05. The company has a quick ratio of 0.95, a current ratio of 1.48 and a debt-to-equity ratio of 0.47.

Tapestry (NYSE:TPR – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The luxury accessories retailer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.11. Tapestry had a net margin of 12.99% and a return on equity of 32.07%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $0.51 EPS. Tapestry’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts expect that Tapestry, Inc. will post 3.46 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 27th. Investors of record on Friday, June 3rd will be issued a $0.25 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $1.00 annualized dividend and a yield of 2.99%. Tapestry’s dividend payout ratio (DPR) is presently 32.26%.

In other news, CEO Joanne C. Crevoiserat bought 5,700 shares of the company’s stock in a transaction that occurred on Friday, March 11th. The shares were purchased at an average price of $34.60 per share, for a total transaction of $197,220.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tapestry by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 32,654,335 shares of the luxury accessories retailer’s stock worth $1,213,109,000 after purchasing an additional 751,210 shares during the period. BlackRock Inc. increased its holdings in shares of Tapestry by 1.9% during the 4th quarter. BlackRock Inc. now owns 17,203,942 shares of the luxury accessories retailer’s stock worth $698,482,000 after purchasing an additional 316,964 shares during the period. State Street Corp increased its stake in Tapestry by 5.0% in the fourth quarter. State Street Corp now owns 10,808,751 shares of the luxury accessories retailer’s stock valued at $438,835,000 after acquiring an additional 518,261 shares during the period. Franklin Resources Inc. increased its stake in Tapestry by 166.9% in the third quarter. Franklin Resources Inc. now owns 7,108,830 shares of the luxury accessories retailer’s stock valued at $263,170,000 after acquiring an additional 4,445,584 shares during the period. Finally, Geode Capital Management LLC increased its stake in Tapestry by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 5,284,345 shares of the luxury accessories retailer’s stock valued at $214,233,000 after acquiring an additional 329,395 shares during the period. Institutional investors own 89.75% 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 through three segments: Coach, Kate Spade, and Stuart Weitzman. The company offers women's accessories, including handbags, such as wallets, money pieces, wristlets, and cosmetic cases; novelty accessories comprising address books, time management and travel accessories, sketchbooks, and portfolios; and key rings and charms.

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