4,556 Shares in Tapestry, Inc. $TPR Bought by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC acquired 4,556 shares of Tapestry, Inc. valued at approximately $400,000 during the 2nd quarter, according to a recent SEC filing.
• Tapestry recently declared a quarterly dividend of $0.40 per share, marking an increase from the previous $0.35 dividend, with a current yield of 1.4%.
• Analyst ratings for Tapestry indicate a trend of increased price targets from several firms, with the average consensus target price at $110.00 and a majority rating the stock as a "Buy".

NorthRock Partners LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,556 shares of the luxury accessories retailer's stock, valued at approximately $400,000.

A number of other hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Tapestry by 17.3% during the 1st quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer's stock valued at $623,000 after acquiring an additional 1,304 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Tapestry by 21.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 94,205 shares of the luxury accessories retailer's stock valued at $6,633,000 after purchasing an additional 16,407 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Tapestry by 23.3% in the 1st quarter. Ritholtz Wealth Management now owns 15,633 shares of the luxury accessories retailer's stock worth $1,101,000 after purchasing an additional 2,953 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Tapestry by 26.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 15,997 shares of the luxury accessories retailer's stock worth $1,126,000 after purchasing an additional 3,341 shares in the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of Tapestry in the 1st quarter worth approximately $246,000. Institutional investors own 90.77% of the company's stock.

Insider Activity

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the 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 transaction, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was 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 directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on TPR shares. UBS Group dropped their target price on Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Barclays upped 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. Bank of America lowered shares of Tapestry from a "buy" rating to a "neutral" rating and raised their price objective for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Finally, The Goldman Sachs Group increased their price target 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 given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $110.00.

Tapestry Stock Up 0.4%

TPR opened at $116.69 on Thursday. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $118.56. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The firm has a 50 day moving average price of $107.90 and a 200-day moving average price of $91.50. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 185.22, a PEG ratio of 2.80 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last announced its 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 business had revenue of $1.72 billion during 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%. The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. 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. Tapestry's dividend payout ratio is presently 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.

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