Aberdeen Group plc Sells 3,834 Shares of Tapestry, Inc. $TPR

Key Points

• Aberdeen Group plc has reduced its stake in Tapestry, Inc. by 18.9%, selling 3,834 shares, leaving them with 16,427 shares valued at approximately $1.44 million.
• Several institutional investors, including Private Trust Co. NA and Mather Group LLC, have increased their holdings in Tapestry, suggesting renewed confidence in the stock.
• Tapestry recently increased its quarterly dividend from $0.35 to $0.40 per share, marking a positive change for investors with a 1.4% yield.

Aberdeen Group plc decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 18.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,427 shares of the luxury accessories retailer's stock after selling 3,834 shares during the quarter. Aberdeen Group plc's holdings in Tapestry were worth $1,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its position in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 153 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Tapestry by 2.8% in the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock worth $424,000 after buying an additional 165 shares during the last quarter. Harbour Investments Inc. grew its position in Tapestry by 120.1% during 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 during the period. MAI Capital Management increased its holdings in Tapestry by 51.7% during 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 during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Tapestry by 3.2% during the first quarter. Evergreen Capital Management LLC now owns 6,808 shares of the luxury accessories retailer's stock valued at $479,000 after buying an additional 209 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on TPR. Weiss Ratings reiterated a "hold (c)" rating on shares of Tapestry in a research report on Wednesday, October 8th. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and upped their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Wells Fargo & Company lifted their price objective on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Raymond James Financial reiterated 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of Tapestry in a report on Thursday, September 11th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $110.00.

Insider Activity

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares in the company, valued at $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 is available through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the company'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 sale, the vice president directly owned 21,098 shares of the company's stock, valued at $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 insiders.

Tapestry Stock Performance

Tapestry stock opened at $116.70 on Friday. 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 $118.56. The company's 50-day moving average price is $108.22 and its 200-day moving average price is $92.12. The company has a market cap of $24.16 billion, a PE ratio of 185.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.57.

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

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a dividend of $0.40 per share. 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 dividend payout ratio (DPR) is 253.97%.

About Tapestry

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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