Chicago Partners Investment Group LLC Grows Stake in Tapestry, Inc. $TPR

Chicago Partners Investment Group LLC grew its holdings in Tapestry, Inc. (NYSE:TPR) by 34.8% during the second quarter, HoldingsChannel reports. The fund owned 6,055 shares of the luxury accessories retailer’s stock after purchasing an additional 1,562 shares during the period. Chicago Partners Investment Group LLC’s holdings in Tapestry were worth $532,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TPR. Harbour Investments Inc. increased its stake in Tapestry by 120.1% in 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 during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the 1st quarter valued at $25,000. First PREMIER Bank purchased a new position in shares of Tapestry in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry during the first quarter worth about $29,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Tapestry during the first quarter worth about $35,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was 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 approximately $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TPR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Cowen restated a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and raised their target price for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Raymond James Financial lifted their target price on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.75.

Tapestry Price Performance

TPR stock opened at $115.12 on Thursday. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $118.56. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The stock’s 50 day moving average price is $108.54 and its 200 day moving average price is $93.12. The firm has a market cap of $23.83 billion, a P/E ratio of 182.73, a PEG ratio of 2.82 and a beta of 1.57.

Tapestry (NYSE:TPR) last posted its 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. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company 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. On average, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $0.40 dividend. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry’s payout ratio is currently 253.97%.

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.