Steward Partners Investment Advisory LLC Sells 5,692 Shares of Tapestry, Inc. $TPR

Key Points

• Steward Partners Investment Advisory LLC reduced its stake in Tapestry, Inc. by 5.5%, selling 5,692 shares, which left them with 97,265 shares valued at approximately $6.85 million.
• Several hedge funds have made significant adjustments to their holdings in Tapestry, with Ameriprise Financial increasing their stake by 4.8% and Price T Rowe Associates raising theirs by a staggering 593.3% during the fourth quarter.
• Tapestry announced an increase in its quarterly dividend from $0.35 to $0.40 per share, with a payout ratio of 222.22% and a projected annualized yield of 1.6%.

Steward Partners Investment Advisory LLC lessened its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,265 shares of the luxury accessories retailer's stock after selling 5,692 shares during the period. Steward Partners Investment Advisory LLC's holdings in Tapestry were worth $6,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its stake in Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after purchasing an additional 370,784 shares during the last quarter. Northern Trust Corp increased its position in Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock valued at $183,909,000 after acquiring an additional 83,222 shares during the period. Price T Rowe Associates Inc. MD increased its position in Tapestry by 593.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after acquiring an additional 1,875,753 shares during the period. Southpoint Capital Advisors LP acquired a new position in Tapestry in the 4th quarter valued at approximately $130,660,000. Finally, WT Asset Management Ltd increased its position in Tapestry by 140.6% in the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock valued at $110,870,000 after acquiring an additional 920,087 shares during the period. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 1.2%

Shares of Tapestry stock traded up $1.1740 during trading hours on Friday, reaching $99.5640. The company's stock had a trading volume of 3,103,699 shares, compared to its average volume of 4,928,831. Tapestry, Inc. has a one year low of $39.40 and a one year high of $114.05. The company has a market capitalization of $20.72 billion, a P/E ratio of 158.04, a P/E/G ratio of 2.49 and a beta of 1.51. The stock's fifty day simple moving average is $98.31 and its two-hundred day simple moving average is $83.35. 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 (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share 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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm 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, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is 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 1.6%. Tapestry's payout ratio is 253.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TPR shares. Evercore ISI decreased their price target on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Wall Street Zen cut shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Morgan Stanley upped their price target on shares of Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price objective (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.47.

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.