2,702 Shares in Tapestry, Inc. $TPR Bought by Sagespring Wealth Partners LLC

Key Points

• Sagespring Wealth Partners LLC acquired 2,702 shares of Tapestry, Inc. valued at approximately $237,000 in the second quarter.
• Tapestry reported $1.04 earnings per share for the last quarter, surpassing analysts' estimates of $1.02, with revenue increasing 8.3% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, up from the previous $0.35, resulting in a 1.4% dividend yield.

Sagespring Wealth Partners LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,702 shares of the luxury accessories retailer's stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1858 Wealth Management LLC increased its holdings in Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer's stock valued at $337,000 after buying an additional 95 shares in the last quarter. Private Trust Co. NA increased its holdings in Tapestry by 27.2% in the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after buying an additional 153 shares in the last quarter. Mather Group LLC. increased its holdings in Tapestry by 2.8% in the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after buying an additional 165 shares in the last quarter. Harbour Investments Inc. increased its holdings 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 buying an additional 197 shares in the last quarter. Finally, MAI Capital Management increased its holdings in Tapestry by 51.7% in the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock valued at $42,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR opened at $116.70 on Friday. The firm has a market capitalization of $24.16 billion, a PE ratio of 185.23, a PEG ratio of 2.82 and a beta of 1.57. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $118.56. The firm's 50-day moving average price is $108.22 and its 200 day moving average price is $92.24. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. This is a boost from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry's dividend payout ratio (DPR) is presently 253.97%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tapestry in a report on Wednesday, October 8th. Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Barclays lifted their target price on shares of Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Evercore ISI dropped their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $125.00 target price on shares of Tapestry in a research report on Thursday, September 11th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.00.

Insider Transactions at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the business's 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business's 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 completion of the transaction, the vice president 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 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.

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