NewEdge Advisors LLC Has $3.85 Million Holdings in Tapestry, Inc. $TPR

Key Points

• NewEdge Advisors LLC decreased its stake in Tapestry, Inc. by 24.1%, selling 17,356 shares during the first quarter, leaving them with 54,642 shares valued at approximately $3.85 million.
• Tapestry recently announced a quarterly dividend increase from $0.35 to $0.40 per share, with a 1.5% dividend yield, reflecting the company’s solid financial performance.
• Seventeen research analysts have rated Tapestry stock as a "Buy", and it currently has an average target price of $105.47, indicating positive sentiment among analysts.

NewEdge Advisors LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,642 shares of the luxury accessories retailer's stock after selling 17,356 shares during the period. NewEdge Advisors LLC's holdings in Tapestry were worth $3,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. DoubleLine ETF Adviser LP bought a new stake in Tapestry during the 1st quarter worth about $378,000. Boothbay Fund Management LLC raised its holdings in Tapestry by 19.6% during the 1st quarter. Boothbay Fund Management LLC now owns 212,112 shares of the luxury accessories retailer's stock worth $14,935,000 after purchasing an additional 34,709 shares during the last quarter. AQR Capital Management LLC raised its holdings in Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Amundi raised its holdings in Tapestry by 25.4% during the 1st quarter. Amundi now owns 432,323 shares of the luxury accessories retailer's stock worth $28,140,000 after purchasing an additional 87,550 shares during the last quarter. Finally, Ancora Advisors LLC raised its holdings in Tapestry by 7,948.1% during the 1st quarter. Ancora Advisors LLC now owns 8,692 shares of the luxury accessories retailer's stock worth $612,000 after purchasing an additional 8,584 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares of the company's stock, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares of the company's stock, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Tapestry Stock Down 0.3%

NYSE TPR traded down $0.32 during trading hours on Friday, reaching $106.55. 2,940,833 shares of the company's stock were exchanged, compared to its average volume of 4,108,255. The company's 50-day moving average is $103.86 and its two-hundred day moving average is $85.54. Tapestry, Inc. has a one year low of $42.06 and a one year high of $114.05. 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 has a market capitalization of $22.18 billion, a price-to-earnings ratio of 169.13, a price-to-earnings-growth ratio of 2.68 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the business earned $0.92 EPS. Tapestry's revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 EPS 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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TPR. Wells Fargo & Company boosted 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 cut Tapestry from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 6th. Sanford C. Bernstein reissued an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and upped their price target for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Finally, Evercore ISI lowered their price target on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and a consensus price target of $106.47.

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.