NewEdge Advisors LLC Sells 17,356 Shares of Tapestry, Inc. $TPR

NewEdge Advisors LLC reduced its stake in Tapestry, Inc. (NYSE:TPR) by 24.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,642 shares of the luxury accessories retailer’s stock after selling 17,356 shares during the quarter. NewEdge Advisors LLC’s holdings in Tapestry were worth $3,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TPR. Harbour Investments Inc. boosted its stake in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tapestry in the 1st quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in shares of Tapestry in the first quarter worth about $35,000. MorganRosel Wealth Management LLC bought a new position in shares of Tapestry in the first quarter worth approximately $35,000. Finally, MAI Capital Management increased its stake in Tapestry by 51.7% in the 1st quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer’s stock worth $42,000 after buying an additional 202 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TPR has been the topic of several research analyst reports. Barclays reissued an “overweight” rating and issued a $105.00 target price (up previously from $98.00) on shares of Tapestry in a report on Friday, July 11th. Morgan Stanley increased their target price on Tapestry from $90.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Sanford C. Bernstein reissued an “outperform” rating and issued a $112.00 target price on shares of Tapestry in a report on Friday, August 15th. Cowen reaffirmed a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Finally, Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.47.

Tapestry Stock Up 0.3%

NYSE TPR opened at $105.11 on Wednesday. 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, Inc. has a 52 week low of $40.32 and a 52 week high of $114.05. The firm has a market capitalization of $21.88 billion, a price-to-earnings ratio of 166.84, a PEG ratio of 2.64 and a beta of 1.52. The company has a fifty day moving average of $102.85 and a two-hundred day moving average of $85.09.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.40 per share. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 5th. Tapestry’s payout ratio is currently 253.97%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.18% of the company’s stock.

Tapestry Company Profile

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.