Tapestry, Inc. $TPR Shares Sold by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services reduced its Tapestry stake by 38.2% in the first quarter, selling 7,556 shares and leaving it with 12,219 shares worth about $1.72 million.
• Tapestry executives also sold shares recently: CEO Todd Kahn sold 19,557 shares, and CEO Joanne C. Crevoiserat sold 27,776 shares under a Rule 10b5-1 plan.
• The company posted strong quarterly results, with EPS of $1.66 and revenue of $1.92 billion, both above estimates, while analysts maintain a Moderate Buy rating and average target price of $170.06.

Kestra Advisory Services LLC cut its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 38.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,219 shares of the luxury accessories retailer's stock after selling 7,556 shares during the quarter. Kestra Advisory Services LLC's holdings in Tapestry were worth $1,724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Personal CFO Solutions LLC raised its holdings in Tapestry by 59.3% in the first quarter. Personal CFO Solutions LLC now owns 3,921 shares of the luxury accessories retailer's stock valued at $553,000 after acquiring an additional 1,460 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in Tapestry by 92.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 5,917 shares of the luxury accessories retailer's stock worth $835,000 after acquiring an additional 2,842 shares in the last quarter. Resonant Capital Advisors LLC increased its position in shares of Tapestry by 6.3% in the 1st quarter. Resonant Capital Advisors LLC now owns 3,003 shares of the luxury accessories retailer's stock worth $424,000 after purchasing an additional 178 shares during the last quarter. Collaborative Fund Advisors LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at about $440,000. Finally, Kathmere Capital Management LLC lifted its position in shares of Tapestry by 7.0% during the first quarter. Kathmere Capital Management LLC now owns 9,733 shares of the luxury accessories retailer's stock worth $1,373,000 after purchasing an additional 633 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's stock in a transaction on 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 in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a report on Friday, June 12th. UBS Group boosted their price objective on shares of Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Robert W. Baird raised their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $170.06.

Tapestry Stock Performance

TPR stock opened at $141.06 on Tuesday. The company has a market capitalization of $28.50 billion, a P/E ratio of 45.21, a PEG ratio of 1.30 and a beta of 1.43. The company has a 50-day simple moving average of $141.58 and a 200 day simple moving average of $142.21. Tapestry, Inc. has a fifty-two week low of $92.62 and a fifty-two week high of $161.97. 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 (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts predict that Tapestry, Inc. will post 6.96 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry's dividend payout ratio (DPR) is currently 51.28%.

Tapestry Profile

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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