Tapestry (NYSE:TPR) Announces Earnings Results, Beats Estimates By $0.13 EPS

by · The Markets Daily

Tapestry (NYSE:TPR – Get Free Report) posted its quarterly earnings data 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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue was up 13.1% compared to the same quarter last year. Tapestry updated its FY 2026 guidance to 5.450-5.600 EPS.

Tapestry Price Performance

NYSE:TPR traded down $10.43 during trading hours on Thursday, reaching $98.88. The company had a trading volume of 8,136,031 shares, compared to its average volume of 4,512,777. The stock has a 50-day moving average of $110.91 and a two-hundred day moving average of $96.89. Tapestry has a one year low of $49.84 and a one year high of $118.56. The firm has a market capitalization of $20.47 billion, a PE ratio of 156.95, a PEG ratio of 2.72 and a beta of 1.71. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, December 5th. Tapestry’s dividend payout ratio is currently 253.97%.

Analysts Set New Price Targets

Several brokerages recently issued reports on TPR. Morgan Stanley restated an “overweight” rating on shares of Tapestry in a research note on Thursday, September 11th. UBS Group lowered their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Evercore ISI boosted their price objective on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday. Finally, BTIG Research assumed coverage on Tapestry in a research report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price objective on the stock. 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, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $115.80.

View Our Latest Analysis on TPR

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was 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 directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% 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.

Institutional Investors Weigh In On Tapestry

A number of large investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. bought a new stake in shares of Tapestry during the second quarter worth $265,000. Evergreen Capital Management LLC increased its position in shares of Tapestry by 27.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 8,673 shares of the luxury accessories retailer’s stock valued at $762,000 after buying an additional 1,865 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Tapestry by 3.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 109,247 shares of the luxury accessories retailer’s stock valued at $9,604,000 after acquiring an additional 3,641 shares during the period. 44 Wealth Management LLC grew its stake in Tapestry by 0.8% in the second quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock valued at $1,670,000 after acquiring an additional 142 shares during the period. Finally, MUFG Securities EMEA plc bought a new position in shares of Tapestry during the 2nd quarter valued at about $54,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Tapestry

(Get Free Report)

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.

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