Kaufman Rossin Wealth LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,524 shares of the luxury accessories retailer's stock, valued at approximately $319,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in Tapestry by 120.1% in the first 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 in the last quarter. Greenline Partners LLC acquired a new stake in Tapestry in the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in Tapestry in the first quarter valued at $29,000. Coppell Advisory Solutions LLC raised its holdings in 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 acquiring an additional 150 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new position in Tapestry during the 1st quarter worth approximately $35,000. 90.77% of the stock is owned by institutional investors and hedge funds.
Tapestry Stock Performance
Shares of Tapestry stock traded up $1.1740 on Friday, reaching $99.5640. 3,103,699 shares of the company were exchanged, compared to its average volume of 4,753,446. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The company's 50-day moving average is $98.72 and its two-hundred day moving average is $83.60. The firm has a market cap of $20.72 billion, a price-to-earnings ratio of 158.04, a P/E/G ratio of 2.51 and a beta of 1.51. Tapestry, Inc. has a 1-year low of $39.40 and a 1-year high of $114.05.
Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.72 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research 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 will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a $0.40 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.6%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is 222.22%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on TPR shares. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 target price (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $112.00 target price on shares of Tapestry in a report on Friday, August 15th. JPMorgan Chase & Co. increased their target price on Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Thursday, June 12th. Finally, Bank of America downgraded Tapestry from a "buy" rating to a "neutral" rating and increased their target price for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus target price of $105.47.
Read Our Latest Report on TPR
About Tapestry
(
Free Report)
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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