Kera Capital Partners Inc. Acquires New Stake in Tapestry, Inc. $TPR

Key Points

• Kera Capital Partners Inc. acquired a new stake in Tapestry, Inc., purchasing 2,518 shares valued at approximately $221,000 in the second quarter.
• Multiple institutional investors, including Private Trust Co. NA and Mather Group LLC, have increased their holdings in Tapestry, resulting in institutional ownership of 90.77% of the company's stock.
• Tapestry announced a quarterly dividend increase from $0.35 to $0.40 per share, with an annualized yield of 1.5%, to be paid on September 22nd.

Kera Capital Partners Inc. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,518 shares of the luxury accessories retailer's stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in shares of Tapestry by 27.2% in 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 worth $424,000 after purchasing an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Tapestry by 25.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after purchasing an additional 194 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after purchasing an additional 197 shares in the last quarter. Finally, MAI Capital Management increased its holdings in shares of Tapestry by 51.7% in the 1st quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock worth $42,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $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. 1.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on TPR shares. Argus lifted their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Wells Fargo & Company lifted their price objective on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Wall Street Zen raised Tapestry from a "buy" rating to a "strong-buy" rating in a report on Sunday. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Finally, Cowen reaffirmed a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $106.47.

Tapestry Price Performance

NYSE TPR opened at $106.55 on Monday. The company has a market capitalization of $22.18 billion, a PE ratio of 169.13, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. 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 business's fifty day moving average is $103.86 and its 200 day moving average is $85.54. Tapestry, Inc. has a fifty-two week low of $42.06 and a fifty-two week high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.5%. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio (DPR) is presently 253.97%.

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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