Prospera Financial Services Inc Cuts Stake in Tapestry, Inc. $TPR

Key Points

• Prospera Financial Services sharply cut its Tapestry stake by 81.6% in the fourth quarter, selling more than 21,000 shares and ending with 4,785 shares valued at about $612,000.
• Insider selling was also notable, with CEO Todd Kahn and CEO Joanne C. Crevoiserat both selling shares in May under disclosed transactions, while insiders overall own just 1.32% of the company.
• Tapestry reported strong quarterly results, beating EPS and revenue estimates, and maintained a quarterly dividend of $0.40 per share; analysts remain generally bullish with a Moderate Buy consensus and an average price target of $160.67.

Prospera Financial Services Inc reduced its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 81.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,785 shares of the luxury accessories retailer's stock after selling 21,251 shares during the period. Prospera Financial Services Inc's holdings in Tapestry were worth $612,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Northwest Wealth Management LLC lifted its holdings in shares of Tapestry by 3.4% during the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer's stock worth $315,000 after acquiring an additional 82 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer's stock worth $405,000 after acquiring an additional 87 shares during the period. CVA Family Office LLC lifted its holdings in shares of Tapestry by 23.4% during the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer's stock worth $60,000 after acquiring an additional 89 shares during the period. Clark Financial Services Group Inc. BD lifted its holdings in shares of Tapestry by 1.8% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer's stock worth $733,000 after acquiring an additional 103 shares during the period. Finally, Essex Financial Services Inc. raised its holdings in Tapestry by 3.5% in the third quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer's stock valued at $376,000 after buying an additional 113 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Tapestry Stock Up 0.0%

Shares of NYSE:TPR opened at $145.40 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 52-week low of $76.92 and a 52-week high of $161.97. The company has a 50 day moving average of $142.31 and a two-hundred day moving average of $134.90. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of 46.60, a price-to-earnings-growth ratio of 1.48 and a beta of 1.45.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $1.03 earnings per share. Tapestry's revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts forecast that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry's dividend payout ratio (DPR) is 51.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TPR shares. Robert W. Baird raised their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. UBS Group upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and raised their price target for the company from $142.00 to $187.00 in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $160.67.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry's operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

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