Ascent Group LLC Grows Stock Holdings in Tapestry, Inc. $TPR

Key Points

• Ascent Group LLC increased its stake in Tapestry, Inc. by 129.4%, owning 7,819 shares valued at $687,000.
• Analysts have generally upgraded Tapestry's stock ratings, with average target prices between $100.00 and $120.00, highlighting a consensus of strong buy ratings.
• Tapestry recently announced a quarterly dividend increase to $0.40, reflecting a 1.4% yield and a payout ratio of 253.97%.

Ascent Group LLC increased its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 129.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,819 shares of the luxury accessories retailer's stock after buying an additional 4,410 shares during the period. Ascent Group LLC's holdings in Tapestry were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Harbour Investments Inc. boosted 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 worth $25,000 after acquiring an additional 197 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the 1st quarter worth about $25,000. First PREMIER Bank bought a new position in Tapestry in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Tapestry during the 1st quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in Tapestry during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TPR shares. 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. Wells Fargo & Company upped 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. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a report on Thursday, June 12th. Cowen reaffirmed a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price objective (up from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $108.42.

Insider Buying and Selling at Tapestry

In other 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 transaction of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares of the company's stock, valued at $865,767.07. The trade was a 58.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by insiders.

Tapestry Trading Up 0.6%

Tapestry stock opened at $115.56 on Tuesday. Tapestry, Inc. has a 52-week low of $43.07 and a 52-week high of $117.77. The company has a market cap of $23.92 billion, a P/E ratio of 183.43, a P/E/G ratio of 2.77 and a beta of 1.57. 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 business has a 50-day simple moving average of $107.20 and a two-hundred day simple moving average of $89.75.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Analysts predict 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. Investors 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 dividend on an annualized basis and a yield of 1.4%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is 253.97%.

Tapestry Company 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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