Tapestry, Inc. $TPR Shares Sold by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC significantly reduced its stake in Tapestry, Inc. by 66.4% during the second quarter, ultimately retaining 3,096 shares valued at $272,000.
• Overall, 90.77% of Tapestry's shares are owned by institutional investors, indicating strong institutional interest in the company.
• Tapestry's analysts have recently set an average target price of $106.47 on the stock, with a rating of "Moderate Buy" based on 17 Buy and 4 Hold ratings from investment analysts.

Farther Finance Advisors LLC cut its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 66.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,096 shares of the luxury accessories retailer's stock after selling 6,105 shares during the quarter. Farther Finance Advisors LLC's holdings in Tapestry were worth $272,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Southpoint Capital Advisors LP raised its holdings in shares of Tapestry by 25.0% in the first quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer's stock worth $176,025,000 after acquiring an additional 500,000 shares during the last quarter. Samlyn Capital LLC raised its holdings in shares of Tapestry by 50.2% in the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock worth $138,865,000 after acquiring an additional 658,889 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Tapestry by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer's stock worth $116,310,000 after acquiring an additional 288,219 shares during the last quarter. Finally, WT Asset Management Ltd raised its holdings in shares of Tapestry by 140.6% in the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after acquiring an additional 920,087 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Barclays boosted their price target on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Evercore ISI lowered their price objective on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Finally, UBS Group lowered their price objective on Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $106.47.

Insider Activity

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by company insiders.

Tapestry Stock Up 1.4%

Shares of Tapestry stock opened at $113.00 on Wednesday. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.00. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $23.39 billion, a price-to-earnings ratio of 179.37, a PEG ratio of 2.69 and a beta of 1.52. The business's 50 day simple moving average is $106.72 and its 200-day simple moving average is $88.44.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

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

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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