Avantra Family Wealth Inc. Decreases Stake in Tapestry, Inc. $TPR

Key Points

• Avantra Family Wealth Inc. significantly reduced its stake in Tapestry, Inc. by 46.8% during the second quarter, owning 3,137 shares after selling 2,756 shares, valued at approximately $275,000.
• Several hedge funds have adjusted their holdings in Tapestry, with Harbour Investments Inc. increasing their stake by 120.1% in the first quarter.
• Analysts remain optimistic about Tapestry, with multiple firms lifting their price targets and assigning a consensus rating of "Moderate Buy" and a price target of $108.42.

Avantra Family Wealth Inc. lowered its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 46.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,137 shares of the luxury accessories retailer's stock after selling 2,756 shares during the quarter. Avantra Family Wealth Inc.'s holdings in Tapestry were worth $275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TPR. Harbour Investments Inc. raised its stake in shares of 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 purchasing an additional 197 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the first quarter worth $25,000. First PREMIER Bank purchased a new position in shares of Tapestry in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry in the first quarter worth $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Tapestry in the first quarter worth $35,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Transactions at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 8,153 shares of the company's stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Manesh Dadlani sold 7,882 shares of the 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TPR. The Goldman Sachs Group upped their price objective on Tapestry from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Monday. 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 upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Thursday, June 12th. Barclays upped their price objective on Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Finally, Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $108.42.

Tapestry Stock Performance

NYSE TPR opened at $115.56 on Tuesday. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 183.43, a price-to-earnings-growth 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 moving average price of $107.20 and a 200-day moving average price of $89.75. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.77.

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

Tapestry Increases Dividend

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

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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