Ausdal Financial Partners Inc. Takes $2.98 Million Position in Tapestry, Inc. $TPR

Key Points

• Ausdal Financial Partners acquired 20,354 shares of Tapestry worth approximately $2.98 million in the second quarter. Institutional investors collectively own 90.77% of the company.
• Analysts maintain a generally positive view of Tapestry, with a “Moderate Buy” consensus rating and an average price target of $175.12. Several firms recently raised their targets, including JPMorgan to $211.
• Tapestry reported quarterly EPS of $1.32, exceeding expectations, while revenue increased 8.9% year over year to $1.88 billion. The company also raised its quarterly dividend to $0.4625 per share, implying a 1.4% annual yield.

Ausdal Financial Partners Inc. acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 20,354 shares of the luxury accessories retailer's stock, valued at approximately $2,979,000.

Other large investors have also bought and sold shares of the company. Cetera Trust Company N.A acquired a new stake in shares of Tapestry in the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Tapestry during the second quarter worth about $31,000. Acumen Wealth Advisors LLC acquired a new position in shares of Tapestry during the fourth quarter worth about $28,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the second quarter worth about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Tapestry during the fourth quarter worth about $32,000. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

TPR has been the topic of a number of recent research reports. Sanford C. Bernstein reissued a "market perform" rating and issued a $185.00 target price (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Telsey Advisory Group upped their price target on Tapestry from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Barclays boosted their target price on shares of Tapestry from $182.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Finally, Morgan Stanley dropped their price objective on Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average price target of $175.12.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business's stock in a transaction 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 sale, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.

Tapestry Stock Down 0.0%

TPR stock opened at $130.06 on Thursday. The business has a 50-day simple moving average of $144.05 and a 200 day simple moving average of $144.81. The company has a market cap of $25.93 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80.

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

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a $0.4625 dividend. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 4th. Tapestry's dividend payout ratio (DPR) is 21.95%.

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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