Tapestry, Inc. $TPR Shares Acquired by 1858 Wealth Management LLC

1858 Wealth Management LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,835 shares of the luxury accessories retailer’s stock after buying an additional 95 shares during the quarter. 1858 Wealth Management LLC’s holdings in Tapestry were worth $337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. WT Asset Management Ltd lifted its stake in Tapestry by 140.6% during the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock worth $110,870,000 after purchasing an additional 920,087 shares during the last quarter. Nuveen LLC bought a new position in Tapestry during the first quarter worth $59,133,000. AQR Capital Management LLC lifted its stake in Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Samlyn Capital LLC lifted its stake in Tapestry by 50.2% during the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after purchasing an additional 658,889 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in Tapestry during the first quarter worth $37,495,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $108.35 on Friday. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $117.77. The firm’s 50-day simple moving average is $107.67 and its 200 day simple moving average is $90.72. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The stock has a market cap of $22.43 billion, a P/E ratio of 171.98, a P/E/G ratio of 2.61 and a beta of 1.57.

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

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid a dividend of $0.40 per share. This is an increase 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 was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is presently 253.97%.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale 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 Tapestry stock in a transaction dated 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 in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is owned by insiders.

Analysts Set New Price Targets

TPR has been the topic of several research analyst reports. Barclays raised their price objective on Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Wells Fargo & Company raised their price objective on Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. raised their target price on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Morgan Stanley reiterated an “overweight” rating on shares of Tapestry in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group raised their target price on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Seventeen investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.42.

About Tapestry

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.