Tapestry, Inc. $TPR Holdings Cut by Wilsey Asset Management Inc.

Key Points

• Wilsey Asset Management Inc. has reduced its stake in Tapestry, Inc. by 1.0%, now holding approximately 397,543 shares valued at around $34.9 million.
• Tapestry recently announced an increase in its quarterly dividend to $0.40 from $0.35, reflecting a notable annualized yield of 1.4%.
• The company reported earnings of $1.04 per share for the last quarter, exceeding analysts’ estimates and indicating a 8.3% revenue growth year-over-year.

Wilsey Asset Management Inc. decreased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 397,543 shares of the luxury accessories retailer's stock after selling 3,916 shares during the period. Tapestry comprises approximately 6.4% of Wilsey Asset Management Inc.'s holdings, making the stock its 5th biggest holding. Wilsey Asset Management Inc. owned about 0.19% of Tapestry worth $34,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Woodline Partners LP purchased a new stake in Tapestry during the 4th quarter worth $914,000. Focus Partners Advisor Solutions LLC purchased a new stake in Tapestry during the 4th quarter worth $212,000. Vise Technologies Inc. purchased a new stake in Tapestry during the 4th quarter worth $215,000. Forum Financial Management LP purchased a new stake in Tapestry during the 4th quarter worth $333,000. Finally, American Trust purchased a new stake in Tapestry during the 4th quarter worth $253,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Activity

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE:TPR opened at $116.04 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $116.49. The firm has a 50-day simple moving average of $106.01 and a 200 day simple moving average of $87.05. The company has a market cap of $24.15 billion, a PE ratio of 184.19, a P/E/G ratio of 2.75 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last announced 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm earned $0.92 EPS. The company's revenue for the quarter 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, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Cowen restated a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Thursday, June 12th. Sanford C. Bernstein restated an "outperform" rating and issued a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Monday. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $106.47.

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.

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