Blair William & Co. IL Acquires New Position in Tapestry, Inc. $TPR

Key Points

• Blair William & Co. IL has acquired a new stake in Tapestry, Inc., purchasing 4,690 shares valued at approximately $412,000.
• Tapestry recently increased its quarterly dividend from $0.35 to $0.40, reflecting a boost in its annualized dividend yield to 1.4%.
• Tapestry's stock received various price target adjustments, with Barclays raising theirs from $111 to $127 while UBS lowered theirs from $112 to $105, maintaining varied ratings from "buy" to "neutral".

Blair William & Co. IL acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,690 shares of the luxury accessories retailer's stock, valued at approximately $412,000.

Several other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after acquiring an additional 153 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Tapestry by 2.8% during the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after acquiring an additional 165 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Tapestry by 51.7% during the 1st quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock valued at $42,000 after acquiring an additional 202 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in shares of Tapestry by 3.2% during the 1st quarter. Evergreen Capital Management LLC now owns 6,808 shares of the luxury accessories retailer's stock valued at $479,000 after acquiring an additional 209 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value 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 trade represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the firm'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 completion of the transaction, the vice president directly 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. Company insiders own 1.32% of the company's stock.

Tapestry Trading Up 0.2%

Shares of TPR opened at $116.70 on Friday. 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 1 year low of $43.07 and a 1 year high of $118.56. The company has a 50 day simple moving average of $108.22 and a two-hundred day simple moving average of $92.12. The firm has a market cap of $24.16 billion, a P/E ratio of 185.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.57.

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

Tapestry Increases Dividend

The firm 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. Tapestry's payout ratio is 253.97%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective 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. Wall Street Zen cut shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Monday, September 22nd. UBS Group lowered their price objective on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Raymond James Financial restated an "outperform" rating and set a $115.00 target price (up previously from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Finally, Evercore ISI decreased their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $110.00.

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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