Allworth Financial LP Invests $2.25 Million in Tapestry, Inc. $TPR

Allworth Financial LP purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,334 shares of the luxury accessories retailer's stock, valued at approximately $2,245,000.

Several other large investors also recently added to or reduced their stakes in TPR. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tapestry in the 4th quarter valued at $8,109,000. Norges Bank acquired a new stake in shares of Tapestry in the fourth quarter worth $345,349,000. SEB Asset Management AB purchased a new position in shares of Tapestry during the first quarter worth $59,525,000. Keystone Investors PTE Ltd. lifted its position in Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock valued at $8,001,000 after purchasing an additional 9,303 shares during the period. Finally, North Dakota State Investment Board acquired a new position in Tapestry during the fourth quarter valued at $2,417,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on TPR shares. Wells Fargo & Company dropped their target price on Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Daiwa Securities Group upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Wall Street Zen cut shares of Tapestry from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Citigroup lifted their target price on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Finally, Telsey Advisory Group boosted their target price on shares of Tapestry from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $175.12.

Tapestry Stock Performance

TPR opened at $130.66 on Friday. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The firm has a market capitalization of $26.05 billion, a PE ratio of 17.92, a PEG ratio of 1.64 and a beta of 1.43. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The firm's 50-day moving average price is $145.13 and its 200 day moving average price is $144.76.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the company posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

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

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company's stock.

About Tapestry

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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