Abacus FCF Advisors LLC Takes $11.48 Million Position in Tapestry, Inc. $TPR

Abacus FCF Advisors LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 78,397 shares of the luxury accessories retailer's stock, valued at approximately $11,476,000. Tapestry makes up 2.1% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 19th biggest position.

Several other large investors have also modified their holdings of TPR. Johnson Financial Group Inc. acquired a new stake in Tapestry during the second quarter valued at approximately $73,000. Tocqueville Asset Management L.P. bought a new position in Tapestry during the 2nd quarter worth approximately $269,000. NewEdge Wealth LLC acquired a new position in shares of Tapestry in the 2nd quarter worth approximately $232,000. Empirical Asset Management LLC acquired a new position in shares of Tapestry in the 2nd quarter worth approximately $539,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Tapestry in the 2nd quarter valued at approximately $264,000. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TPR. Wells Fargo & Company reduced their price target on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Robert W. Baird increased their price target on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Tapestry from a "buy" rating to a "hold" rating in a research note on Sunday. UBS Group increased their target price on Tapestry from $230.00 to $232.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.12.

Tapestry Stock Performance

Shares of TPR stock opened at $131.51 on Thursday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The firm has a market capitalization of $26.22 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. The business has a 50 day simple moving average of $145.78 and a 200 day simple moving average of $144.84.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry's previous quarterly dividend of $0.40. Tapestry's dividend payout ratio is currently 21.95%.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.32% of the company's stock.

Tapestry Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry's operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

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