Northwest Wealth Management LLC Buys Shares of 2,350 Tapestry, Inc. $TPR

Key Points

• Northwest Wealth Management LLC acquired 2,350 shares of Tapestry, Inc., valued at approximately $206,000, indicating growing interest in the luxury accessories retailer by institutional investors.
• In recent insider transactions, VP Manesh Dadlani and Director Alan Ka Ming Lau sold substantial amounts of Tapestry shares, resulting in ownership decreases of 27.20% and 58.13% respectively.
• Analysts have boosted their price targets for Tapestry, with Argus setting a new target of $92.00 and Wells Fargo increasing theirs to $120.00, reflecting positive sentiment around the company's performance.

Northwest Wealth Management LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,350 shares of the luxury accessories retailer's stock, valued at approximately $206,000.

Other hedge funds have also recently added to or reduced their stakes in the company. First PREMIER Bank acquired a new stake in Tapestry during the 2nd quarter worth $25,000. Flaharty Asset Management LLC acquired a new position in Tapestry in the 1st quarter valued at $25,000. Harbour Investments Inc. raised 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 purchasing an additional 197 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry in the 1st quarter valued at approximately $29,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of Tapestry during the 1st quarter worth $35,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated Monday, August 25th. The stock was 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 of the company's stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Argus upped their target price on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Wells Fargo & Company increased their price target on shares of Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Barclays lifted their price objective on Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target for the company in a report on Thursday, June 12th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and an average price target of $106.47.

Tapestry Trading Up 1.4%

Tapestry stock opened at $113.00 on Wednesday. The company's fifty day moving average price is $106.72 and its two-hundred day moving average price is $88.44. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a one year low of $43.07 and a one year high of $117.00. The company has a market capitalization of $23.39 billion, a price-to-earnings ratio of 179.37, a PEG ratio of 2.69 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company 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 company earned $0.92 earnings per share. The business's quarterly revenue 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 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. This is an increase from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Tapestry's dividend payout ratio is presently 253.97%.

Tapestry 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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