Tapestry Inc. (NYSE: TPR) stock fell -2.46% on Wednesday to $40.91 against a previous-day closing price of $41.94. With 3.36 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.27 million shares. During the session, the Luxury Goods company that operates in wider Consumer Cyclical sector, reached to the highest price of $41.99 whereas the lowest price it dropped to was $40.74. The 52-week range on TPR shows that it touched its highest point at $47.48 and its lowest point at $27.53 during that stretch. It currently has a 1-year price target of $49.91. With its current market cap of 9.73 billion, TPR has annualized dividend of $1.20 while the current yield stands at 2.93%. Beta for the stock currently stands at 1.47.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TPR was down-trending over the past week, with a drop of -5.85%, but this was up by 1.44% over a month. Three-month performance dropped to -5.10% while six-month performance rose 18.37%. The stock gained 30.70% in the past year, while it has gained 7.43% so far this year. A look at the trailing 12-month EPS for TPR yields 3.67 with Next year EPS estimates of 4.25. For the next quarter, that number is 0.96. This implies an EPS growth rate of 21.40% for this year and 9.17% for next year. EPS is expected to grow by 14.55% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 8.70%.
Float and Shares Shorts:
At present, 234.60 million TPR shares are outstanding with a float of 229.48 million shares on hand for trading. On May 14, 2023, short shares totaled 9.96 million, which was 4.30% higher than short shares on Apr 13, 2023. In addition to Ms. Joanne C. Crevoiserat as the firm’s Pres, CEO & Director, Mr. Todd Kahn serves as its CEO & Brand Pres of Coach.
Institutional Ownership:
Through their ownership of 97.93% of TPR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 54.01% of TPR, in contrast to 41.06% held by mutual funds. Shares owned by individuals account for 0.99%. As the largest shareholder in TPR with 12.92% of the stake, The Vanguard Group, Inc. holds 30,510,838 shares worth 30,510,838. A second-largest stockholder of TPR, JPMorgan Investment Management, I, holds 15,400,681 shares, controlling over 6.52% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TPR, holding 11,122,816 shares or 4.71% stake. With a 3.11% stake in TPR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 7,348,344 shares are owned by the mutual fund manager. The JPMorgan Large Cap Growth Fund, which owns about 2.99% of TPR stock, is the second-largest Mutual Fund holder. It holds 7,050,785 shares valued at 287.74 million. Vanguard Small Cap Index Fund holds 2.62% of the stake in TPR, owning 6,175,578 shares worth 252.03 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 31, 2023, TPR reported revenue of $1.62B and operating income of $248.50M. The EBITDA in the recently reported quarter was $240.40M and diluted EPS was $0.75.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TPR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With TPR analysts setting a high price target of $60.00 and a low target of $41.00, the average target price over the next 12 months is $50.35. Based on these targets, TPR could surge 46.66% to reach the target high and rise by 0.22% to reach the target low. Reaching the average price target will result in a growth of 23.08% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded TPR stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 2,059 shares were bought while 1,242 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has risen to 54 over the past year. The total number of shares bought during that period was 782,393 while 540,432 shares were sold.
