Estate Counselors LLC Invests $3.72 Million in Tapestry, Inc. $TPR

Key Points

• Estate Counselors LLC has acquired 52,780 shares of Tapestry, Inc., valued at approximately $3,716,000, marking a significant institutional investment during the first quarter.
• Tapestry recently reported earnings per share (EPS) of $1.04, surpassing expectations, and announced a dividend increase from $0.35 to $0.40 per share, reflecting positive financial performance.
• Several analysts raised their price targets for Tapestry, with a consensus price target of $105.47, indicating optimism about the company's growth prospects.

Estate Counselors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,780 shares of the luxury accessories retailer's stock, valued at approximately $3,716,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC boosted its stake in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after buying an additional 150 shares in the last quarter. Private Trust Co. NA boosted its position 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 worth $50,000 after purchasing an additional 153 shares in the last quarter. Mather Group LLC. increased its holdings in shares of Tapestry by 2.8% in the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after purchasing an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after purchasing an additional 194 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analysts Set New Price Targets

TPR has been the subject of several research analyst reports. Barclays reaffirmed an "overweight" rating and issued a $105.00 price objective (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Thursday, June 12th. Evercore ISI reduced their target price on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Wells Fargo & Company increased their target price on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Trading Up 1.2%

NYSE:TPR traded up $1.1740 during mid-day trading on Friday, reaching $99.5640. The company's stock had a trading volume of 3,103,699 shares, compared to its average volume of 4,753,446. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock has a market cap of $20.72 billion, a P/E ratio of 158.04, a P/E/G ratio of 2.51 and a beta of 1.51. The company's fifty day simple moving average is $98.72 and its two-hundred day simple moving average is $83.60. Tapestry, Inc. has a twelve month low of $39.40 and a twelve month high of $114.05.

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 for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior 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 predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $0.40 dividend. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. Tapestry's dividend payout ratio (DPR) is 222.22%.

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.