6,278 Shares in Tapestry, Inc. $TPR Bought by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management LLC acquired 6,278 shares of Tapestry, Inc., valued at approximately $551,000, during the second quarter.
• Several institutional investors have increased their stakes in Tapestry, with a reported 90.77% of the stock owned by such investors.
• Tapestry recently increased its quarterly dividend to $0.40 per share, marking an annualized yield of 1.5% and reflecting a significant rise from the previous dividend of $0.35.

Kathmere Capital Management LLC bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,278 shares of the luxury accessories retailer's stock, valued at approximately $551,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. B. Riley Wealth Advisors Inc. acquired a new position in Tapestry in the 4th quarter worth $231,000. Wealth Enhancement Advisory Services LLC boosted its stake in Tapestry by 9.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 77,798 shares of the luxury accessories retailer's stock worth $5,083,000 after purchasing an additional 6,851 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Tapestry by 25.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after buying an additional 194 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tapestry by 8,158.1% during the 1st quarter. GAMMA Investing LLC now owns 622,988 shares of the luxury accessories retailer's stock worth $43,865,000 after buying an additional 615,444 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Tapestry by 2.7% during the 1st quarter. Rhumbline Advisers now owns 408,115 shares of the luxury accessories retailer's stock worth $28,735,000 after buying an additional 10,580 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tapestry 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 transaction 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 SEC, which is available at this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the 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 transaction, the vice president 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. 1.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TPR shares. Raymond James Financial restated an "outperform" rating and set a $115.00 price objective (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Cowen restated a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Evercore ISI reduced their price objective on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Sanford C. Bernstein restated an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Finally, TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Thursday, June 12th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $106.47.

Tapestry Stock Up 1.1%

Tapestry stock opened at $108.99 on Monday. The stock has a market cap of $22.68 billion, a P/E ratio of 173.00, a P/E/G ratio of 2.63 and a beta of 1.52. 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 twelve month low of $43.07 and a twelve month high of $117.00. The company's 50-day moving average price is $106.49 and its two-hundred day moving average price is $87.98.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 253.97%.

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.

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