Tapestry, Inc. $TPR Shares Sold by Clifford Swan Investment Counsel LLC

Key Points

• Clifford Swan Investment Counsel LLC reduced its stake in Tapestry, Inc. by 30.1%, now holding 50,140 shares worth approximately $4.4 million.
• Tapestry has received mostly positive ratings from analysts, with 18 "Buy" ratings and a consensus price target of $110.75.
• The company recently increased its quarterly dividend to $0.40, showcasing a commitment to returning value to shareholders, despite a high payout ratio of approximately 254%.

Clifford Swan Investment Counsel LLC lessened its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 30.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 50,140 shares of the luxury accessories retailer's stock after selling 21,612 shares during the period. Clifford Swan Investment Counsel LLC's holdings in Tapestry were worth $4,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPR. Harbour Investments Inc. grew its holdings in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after buying an additional 197 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in Tapestry during the 1st quarter worth about $25,000. First PREMIER Bank purchased a new stake in Tapestry during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry in the first quarter valued at about $29,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Tapestry in the first quarter worth about $35,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Cowen reissued a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Weiss Ratings restated a "hold (c)" rating on shares of Tapestry in a research report on Wednesday, October 8th. Wall Street Zen downgraded Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 22nd. Barclays boosted their price objective on Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Finally, Bank of America lowered Tapestry from a "buy" rating to a "neutral" rating and raised their target price for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.75.

Insider Activity at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the 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 sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $115.12 on Thursday. The business's 50 day moving average price is $108.54 and its 200-day moving average price is $93.12. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The firm has a market capitalization of $23.83 billion, a PE ratio of 182.73, a P/E/G ratio of 2.82 and a beta of 1.57. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $118.56.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS 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 analysts' expectations of $1.67 billion. During the same period in the prior year, the business earned $0.92 earnings per share. The company'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. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $0.40 dividend. This is an increase 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 presently 253.97%.

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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