Tapestry, Inc. $TPR Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Tapestry stake by 40.5% in the first quarter, acquiring 25,854 additional shares for a total holding of 89,678 shares valued at approximately $12.7 million. Institutional investors and hedge funds collectively own 90.77% of Tapestry.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $173.50. Recent targets range from $165 to $205.
• Tapestry reported stronger-than-expected quarterly results, posting $1.66 in EPS and $1.92 billion in revenue, while revenue rose 21.2% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 1.1% yield.

Cetera Investment Advisers lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,678 shares of the luxury accessories retailer's stock after acquiring an additional 25,854 shares during the period. Cetera Investment Advisers' holdings in Tapestry were worth $12,655,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Acumen Wealth Advisors LLC purchased a new position in Tapestry during the fourth quarter worth approximately $28,000. Steph & Co. grew its stake in shares of Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after buying an additional 130 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Tapestry during the fourth quarter valued at about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Tapestry in the 4th quarter valued at about $32,000. Finally, Triumph Capital Management acquired a new position in shares of Tapestry in the 3rd quarter valued at about $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on TPR shares. Raymond James Financial reissued an "outperform" rating and set a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Barclays lifted their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Sanford C. Bernstein reiterated an "outperform" rating and set a $180.00 price objective on shares of Tapestry in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Finally, Weiss Ratings downgraded shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $173.50.

Tapestry Stock Down 0.5%

Shares of NYSE:TPR opened at $150.17 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 52-week low of $92.62 and a 52-week high of $161.97. The company has a 50 day moving average of $143.46 and a two-hundred day moving average of $142.95. The company has a market capitalization of $30.34 billion, a price-to-earnings ratio of 48.13, a price-to-earnings-growth ratio of 1.38 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts forecast that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry's payout ratio is presently 51.28%.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the completion of the transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry's operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

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