Johnson Investment Counsel Inc. Decreases Holdings in Tapestry, Inc. $TPR

Johnson Investment Counsel Inc. trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR) by 24.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,754 shares of the luxury accessories retailer’s stock after selling 2,861 shares during the period. Johnson Investment Counsel Inc.’s holdings in Tapestry were worth $769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in Tapestry by 120.1% during the first 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 in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the first quarter worth about $25,000. First PREMIER Bank purchased a new position in shares of Tapestry in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry in the first quarter worth about $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Tapestry in the first quarter worth about $35,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Tapestry stock opened at $116.31 on Wednesday. The company’s 50 day simple moving average is $107.81 and its 200-day simple moving average is $91.32. The company has a market capitalization of $24.08 billion, a price-to-earnings ratio of 184.61, a price-to-earnings-growth ratio of 2.75 and a beta of 1.57. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $117.77. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last released its quarterly earnings results 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 business had revenue of $1.72 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued 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 presently 253.97%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TPR shares. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 22nd. Barclays raised their price target on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. The Goldman Sachs Group raised their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. UBS Group decreased their price target on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Finally, Argus raised their price target on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry 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 completion of the transaction, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.32% 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.