Archford Capital Strategies LLC Buys New Shares in Tapestry, Inc. $TPR

Key Points

• Archford Capital Strategies LLC acquired a new stake in Tapestry, Inc. by purchasing 2,280 shares valued at approximately $200,000 during the 2nd quarter.
• Tapestry's recent performance includes a quarterly earnings report of $1.04 EPS, surpassing analysts' expectations and a revenue increase of 8.3% year-over-year, totaling $1.72 billion.
• The company recently announced an increase in its quarterly dividend to $0.40 per share, up from $0.35, reflecting a positive outlook despite a payout ratio of 253.97%.

Archford Capital Strategies LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,280 shares of the luxury accessories retailer's stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TPR. Harbour Investments Inc. lifted its holdings in Tapestry by 120.1% in 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. Flaharty Asset Management LLC bought a new position in shares of Tapestry during the 1st quarter worth about $25,000. First PREMIER Bank bought a new position in shares of Tapestry during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tapestry during the 1st quarter worth about $29,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Tapestry during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Tapestry Price Performance

Shares of Tapestry stock opened at $113.00 on Wednesday. The firm has a market cap of $23.39 billion, a PE ratio of 179.37, a price-to-earnings-growth ratio of 2.69 and a beta of 1.52. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $117.00. 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 company's fifty day simple moving average is $106.72 and its two-hundred day simple moving average is $88.44.

Tapestry (NYSE:TPR - Get Free Report) last announced 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. The business had revenue of $1.72 billion for 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 revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is presently 253.97%.

Wall Street Analyst Weigh In

TPR has been the topic of a number of analyst reports. Raymond James Financial restated an "outperform" rating and issued a $115.00 target price (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Thursday, June 12th. Bank of America cut shares of Tapestry from a "buy" rating to a "neutral" rating and upped their price target for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Barclays increased their target price 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. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $106.47.

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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