Abacus Planning Group Inc. Makes New $234,000 Investment in Tapestry, Inc. $TPR

Abacus Planning Group Inc. acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,660 shares of the luxury accessories retailer’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lecap Asset Management Ltd. grew its holdings in shares of Tapestry by 4.1% in the second quarter. Lecap Asset Management Ltd. now owns 33,598 shares of the luxury accessories retailer’s stock valued at $2,950,000 after acquiring an additional 1,323 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Tapestry by 423.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 108,441 shares of the luxury accessories retailer’s stock valued at $9,522,000 after purchasing an additional 87,728 shares during the period. PFG Investments LLC increased its position in shares of Tapestry by 14.1% during the 2nd quarter. PFG Investments LLC now owns 3,320 shares of the luxury accessories retailer’s stock valued at $292,000 after purchasing an additional 411 shares during the last quarter. LBP AM SA bought a new stake in shares of Tapestry during the 2nd quarter worth $6,653,000. Finally, Truist Financial Corp boosted its holdings in shares of Tapestry by 1,004.0% in the 2nd quarter. Truist Financial Corp now owns 427,031 shares of the luxury accessories retailer’s stock worth $37,498,000 after buying an additional 388,350 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research report on Saturday, September 27th. Evercore ISI lowered their price target on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Barclays increased their price objective on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. UBS Group decreased their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $106.47.

Insider Activity at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Tapestry Trading Down 0.6%

NYSE:TPR opened at $114.91 on Friday. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $117.77. The stock’s fifty day moving average price is $107.09 and its two-hundred day moving average price is $89.22. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The company has a market cap of $23.79 billion, a P/E ratio of 182.40, a P/E/G ratio of 2.79 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Tapestry 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.