United Capital Financial Advisors LLC Purchases Shares of 10,860 Tapestry, Inc. $TPR

United Capital Financial Advisors LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,860 shares of the luxury accessories retailer’s stock, valued at approximately $1,590,000.

Other large investors also recently made changes to their positions in the company. Woodline Partners LP lifted its stake in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Tapestry during the 1st quarter valued at about $493,000. Sivia Capital Partners LLC acquired a new position in Tapestry during the 2nd quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in Tapestry in the second quarter valued at approximately $6,307,000. Finally, Brown Advisory Inc. lifted its position in shares of Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock worth $319,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Trading Up 2.0%

NYSE TPR opened at $125.75 on Friday. The company has a market capitalization of $25.07 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.59 and a beta of 1.43. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80. The company’s fifty day moving average price is $143.26 and its two-hundred day moving average price is $144.48.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts predict that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.5%. Tapestry’s payout ratio is currently 21.95%.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Tapestry from $230.00 to $232.00 and gave the company a “buy” rating in a report on Friday, August 14th. Telsey Advisory Group boosted their price objective on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Wells Fargo & Company decreased their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Weiss Ratings raised Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the transaction, the chief executive officer owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.