Simplicity Wealth LLC Invests $279,000 in Tapestry, Inc. $TPR

Simplicity Wealth LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,177 shares of the luxury accessories retailer's stock, valued at approximately $279,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in Tapestry during the first quarter valued at $1,708,000. Nisa Investment Advisors LLC lifted its position in Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock valued at $4,460,000 after purchasing an additional 9,049 shares during the period. Jump Financial LLC lifted its position in Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock valued at $5,612,000 after purchasing an additional 72,623 shares during the period. Allworth Financial LP lifted its position in Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock valued at $913,000 after purchasing an additional 11,679 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Tapestry during the first quarter valued at $1,476,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Shares of TPR stock opened at $116.78 on Thursday. The firm's 50 day moving average price is $107.53 and its 200-day moving average price is $90.11. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a one year low of $43.07 and a one year high of $117.77. The firm has a market cap of $24.17 billion, a P/E ratio of 185.37, a P/E/G ratio of 2.78 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm 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 business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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

Analyst Ratings Changes

TPR has been the subject of a number of analyst reports. Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Argus upped their price objective on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Telsey Advisory Group reiterated an "outperform" rating and issued a $125.00 price objective on shares of Tapestry in a research report on Thursday, September 11th. Finally, TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Thursday, June 12th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $108.42.

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.

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