Dana Investment Advisors Inc. Reduces Stake in Tapestry, Inc. $TPR

Key Points

• Dana Investment Advisors cut its Tapestry stake by 10.8% in the fourth quarter, selling 16,303 shares and leaving it with 133,962 shares valued at about $17.1 million.
• Analysts remain mostly bullish on Tapestry, with a consensus rating of “Moderate Buy” and an average price target of $160.67; several firms recently reiterated or raised positive ratings and targets.
• Tapestry posted strong results for its latest quarter, beating earnings and revenue expectations, and it also announced a quarterly dividend of $0.40 per share, payable June 22.

Dana Investment Advisors Inc. lowered its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,962 shares of the luxury accessories retailer's stock after selling 16,303 shares during the period. Dana Investment Advisors Inc. owned approximately 0.07% of Tapestry worth $17,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Cloud Capital Management LLC purchased a new position in Tapestry in the third quarter worth about $26,000. Triumph Capital Management purchased a new position in shares of Tapestry during the third quarter valued at approximately $29,000. Steph & Co. boosted its position in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after buying an additional 130 shares during the period. Flagship Harbor Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $31,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Tapestry by 2,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after buying an additional 272 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on TPR shares. BNP Paribas Exane started coverage on Tapestry in a research report on Friday, February 13th. They set an "outperform" rating and a $176.00 target price for the company. Weiss Ratings upgraded Tapestry from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Citigroup boosted their target price on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Zacks Research upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. Finally, Barclays set a $179.00 target price on Tapestry and gave the company an "overweight" rating in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Buying and Selling

In related news, Director Thomas Greco sold 14,245 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the completion of the transaction, the director owned 21,302 shares of the company's stock, valued at $3,289,880.88. The trade was a 40.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares of the company's stock, valued at $103,947,659.91. This trade represents a 6.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 90,816 shares of company stock valued at $13,448,032 in the last three months. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Performance

Tapestry stock opened at $129.13 on Friday. The company has a market capitalization of $26.09 billion, a PE ratio of 41.39, a P/E/G ratio of 1.32 and a beta of 1.45. Tapestry, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The company has a 50 day moving average price of $143.45 and a 200-day moving average price of $132.81.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry's payout ratio is 51.28%.

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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