Clarion Wealth Managment Partners LLC Makes New Investment in Tapestry, Inc. $TPR

Clarion Wealth Managment Partners LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,194 shares of the luxury accessories retailer's stock, valued at approximately $2,224,000. Tapestry makes up about 1.8% of Clarion Wealth Managment Partners LLC's investment portfolio, making the stock its 10th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Tapestry in the 4th quarter valued at approximately $8,109,000. Norges Bank bought a new stake in shares of Tapestry during the fourth quarter worth $345,349,000. Keystone Investors PTE Ltd. raised its holdings in shares of Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock worth $8,001,000 after acquiring an additional 9,303 shares during the period. SEB Asset Management AB bought a new stake in shares of Tapestry in the first quarter valued at about $59,525,000. Finally, North Dakota State Investment Board acquired a new position in Tapestry during the 4th quarter worth approximately $2,417,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of analyst reports. Evercore set a $175.00 target price on shares of Tapestry in a research report on Friday, May 8th. Telsey Advisory Group boosted their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Wells Fargo & Company reduced their price objective on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, August 13th. Morgan Stanley lowered their target price on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $205.00 to $211.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.12.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares in the company, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Tapestry Stock Up 0.4%

TPR opened at $130.66 on Monday. The stock has a market cap of $26.05 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80. The stock's fifty day simple moving average is $145.13 and its 200 day simple moving average is $144.87.

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

Tapestry Increases Dividend

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

Tapestry Profile

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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