Sequoia Financial Advisors LLC Invests $227,000 in Tapestry, Inc. $TPR

Key Points

• Sequoia Financial Advisors LLC has invested $227,000 in Tapestry, Inc., acquiring 2,583 shares of the luxury accessories retailer during the second quarter.
• Tapestry has recently seen notable increases in institutional holdings, with 90.77% of its stock owned by such investors, including GAMMA Investing LLC and Janney Montgomery Scott LLC.
• The company reported a quarterly earnings per share (EPS) of $1.04, surpassing analysts' expectations and reflecting an 8.3% increase in revenue year-over-year.

Sequoia Financial Advisors LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,583 shares of the luxury accessories retailer's stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Tapestry by 17.3% in the 1st quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer's stock worth $623,000 after buying an additional 1,304 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Tapestry by 53.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,834 shares of the luxury accessories retailer's stock worth $552,000 after buying an additional 2,743 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Tapestry by 9.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 6,364 shares of the luxury accessories retailer's stock worth $448,000 after buying an additional 545 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Tapestry in the 1st quarter worth about $201,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Tapestry by 431.1% in the 1st quarter. Golden State Wealth Management LLC now owns 887 shares of the luxury accessories retailer's stock worth $62,000 after buying an additional 720 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Sanford C. Bernstein reiterated an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. UBS Group decreased their price objective on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Bank of America lowered shares of Tapestry from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company upped their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average target price of $113.35.

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated 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 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 disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Tapestry Price Performance

NYSE:TPR opened at $114.77 on Friday. The firm has a market cap of $23.76 billion, a price-to-earnings ratio of 182.18, a price-to-earnings-growth ratio of 2.77 and a beta of 1.57. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company's 50-day moving average is $108.92 and its two-hundred day moving average is $93.48. Tapestry, Inc. has a 12-month low of $43.58 and a 12-month high of $118.56.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm'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. Research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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