Brighton Jones LLC Buys 10,268 Shares of Tapestry, Inc. $TPR

Brighton Jones LLC raised its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 293.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,766 shares of the luxury accessories retailer’s stock after purchasing an additional 10,268 shares during the period. Brighton Jones LLC’s holdings in Tapestry were worth $1,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. boosted its stake in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 197 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the first quarter valued at about $25,000. First PREMIER Bank purchased a new position in shares of Tapestry in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tapestry in the first quarter worth about $29,000. Finally, CVA Family Office LLC increased its holdings in shares of Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after purchasing an additional 263 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated 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 represents a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction that occurred on 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 sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Trading Up 0.2%

TPR stock opened at $114.97 on Tuesday. The company’s 50-day simple moving average is $109.50 and its 200-day simple moving average is $94.61. 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 $46.77 and a 52-week high of $118.56. The firm has a market cap of $23.80 billion, a P/E ratio of 182.50, a PEG ratio of 2.76 and a beta of 1.57.

Tapestry (NYSE:TPR) last issued its quarterly earnings results 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. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. Tapestry’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on TPR. Evercore ISI reduced their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Jefferies Financial Group boosted their target price on Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. UBS Group lowered their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Telsey Advisory Group reiterated an “outperform” rating and issued a $125.00 price target on shares of Tapestry in a report on Thursday, September 11th. Finally, BTIG Research assumed coverage on Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 target price for the company. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.10.

Tapestry 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.