Ascent Group LLC Purchases New Stake in Tapestry, Inc. $TPR

Key Points

• Ascent Group LLC acquired a new stake in Tapestry, Inc. by purchasing 3,409 shares valued at approximately $240,000 during the 1st quarter of the year.
• Analysts have raised price targets on Tapestry, with TD Cowen setting a new target price of $100.00 and Wells Fargo increasing theirs to $120.00, indicating overall optimism with a consensus rating of "Moderate Buy."
• Tapestry announced an increase in its quarterly dividend to $0.40 per share, reflecting a positive change from its previous dividend of $0.35.

Ascent Group LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,409 shares of the luxury accessories retailer's stock, valued at approximately $240,000.

Several other hedge funds have also recently bought and sold shares of TPR. Focus Partners Wealth raised its holdings in Tapestry by 33.3% in the fourth quarter. Focus Partners Wealth now owns 19,816 shares of the luxury accessories retailer's stock valued at $1,295,000 after buying an additional 4,952 shares during the period. Jefferies Financial Group Inc. purchased a new position in Tapestry in the fourth quarter valued at approximately $562,000. Janus Henderson Group PLC raised its stake in shares of Tapestry by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 113,637 shares of the luxury accessories retailer's stock valued at $7,427,000 after purchasing an additional 534 shares during the period. Lighthouse Investment Partners LLC acquired a new position in shares of Tapestry during the fourth quarter worth $278,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Tapestry by 8.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,513 shares of the luxury accessories retailer's stock worth $4,280,000 after purchasing an additional 5,251 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TPR. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a research report on Thursday, June 12th. Argus boosted their target price on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Wells Fargo & Company boosted their target price on shares of Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Morgan Stanley boosted their target price on shares of Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Cowen reissued a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $106.47.

Tapestry Trading Down 0.3%

TPR opened at $106.55 on Friday. The stock has a market capitalization of $22.18 billion, a PE ratio of 169.13, a P/E/G ratio of 2.68 and a beta of 1.52. The firm's fifty day moving average price is $103.86 and its 200 day moving average price is $85.54. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a 12-month low of $42.06 and a 12-month high of $114.05.

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

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry's payout ratio is presently 253.97%.

Insider Buying and Selling at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction on 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 completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction on 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 disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

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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