Tapestry, Inc. $TPR Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC lessened its position in Tapestry, Inc. (NYSE:TPR) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,616 shares of the luxury accessories retailer’s stock after selling 636 shares during the quarter. Tapestry comprises 1.3% of Princeton Global Asset Management LLC’s holdings, making the stock its 20th largest position. Princeton Global Asset Management LLC’s holdings in Tapestry were worth $7,079,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Tapestry by 17.3% in the 1st quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer’s stock valued at $623,000 after purchasing an additional 1,304 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tapestry by 21.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 94,205 shares of the luxury accessories retailer’s stock worth $6,633,000 after buying an additional 16,407 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Tapestry by 53.9% in the first quarter. Janney Montgomery Scott LLC now owns 7,834 shares of the luxury accessories retailer’s stock worth $552,000 after buying an additional 2,743 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in Tapestry by 5.1% during the first quarter. Johnson Investment Counsel Inc. now owns 11,615 shares of the luxury accessories retailer’s stock worth $818,000 after acquiring an additional 562 shares during the last quarter. Finally, Advisor Resource Council purchased a new stake in Tapestry during the 1st quarter valued at about $609,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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 sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business’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 value of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cowen restated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Barclays boosted 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. UBS Group cut their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, The Goldman Sachs Group upped their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.00.

Tapestry Stock Performance

Shares of Tapestry stock opened at $116.70 on Monday. The firm has a market cap of $24.16 billion, a PE ratio of 185.23, a price-to-earnings-growth ratio of 2.82 and a beta of 1.57. 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 $43.07 and a 52 week high of $118.56. The business’s fifty day simple moving average is $108.22 and its 200-day simple moving average is $92.43.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $0.92 EPS. Tapestry’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 forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

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

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.