Tapestry, Inc. $TPR Holdings Raised by Vest Financial LLC

Key Points

• Vest Financial LLC significantly increased its stake in Tapestry, Inc. by 65.6% in the second quarter, now owning 56,591 shares valued at approximately $4.97 million.
• Analysts have shown bullish sentiment towards Tapestry, as evidenced by several upgrades in price targets, with Wells Fargo and JPMorgan both giving the stock an "overweight" rating and increasing their targets to $120.00 and $142.00, respectively.
• Tapestry recently declared a quarterly dividend of $0.40, marking an increase from the previous $0.35, with an annualized dividend now at $1.60 and a yield of 1.4%.

Vest Financial LLC grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 65.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,591 shares of the luxury accessories retailer's stock after acquiring an additional 22,424 shares during the quarter. Vest Financial LLC's holdings in Tapestry were worth $4,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TPR. WT Asset Management Ltd grew its stake in Tapestry by 140.6% during the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after buying an additional 920,087 shares during the last quarter. Nuveen LLC bought a new position in Tapestry during the 1st quarter worth $59,133,000. AQR Capital Management LLC grew its stake in Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after buying an additional 838,057 shares during the last quarter. Samlyn Capital LLC grew its stake in Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock worth $138,865,000 after buying an additional 658,889 shares during the last quarter. Finally, WCM Investment Management LLC bought a new position in Tapestry during the 1st quarter worth $37,495,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TPR has been the subject of a number of recent research reports. Wells Fargo & Company upped their price objective on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. JPMorgan Chase & Co. boosted their price target on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Argus upped their price objective on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $112.00 target price on shares of Tapestry in a report on Friday, August 15th. Finally, Bank of America downgraded Tapestry from a "buy" rating to a "neutral" rating and upped their target price for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $108.42.

Tapestry Price Performance

Shares of NYSE:TPR opened at $113.99 on Tuesday. The business has a 50 day moving average price of $107.72 and a 200 day moving average price of $91.15. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.77. The company has a market cap of $23.60 billion, a price-to-earnings ratio of 180.94, a PEG ratio of 2.61 and a beta of 1.57. 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 (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company earned $0.92 EPS. The company's quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

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

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of Tapestry 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 transaction, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry 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 sale, the director directly owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is owned by company insiders.

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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