Tapestry, Inc. $TPR Shares Sold by Valley Wealth Managers Inc.

Key Points

• Valley Wealth Managers cut its stake in Tapestry by 26.5% in the first quarter, selling 68,222 shares and leaving it with 189,609 shares worth about $26.8 million.
• Tapestry beat earnings expectations in its latest quarter, posting $1.66 EPS versus $1.30 expected and revenue of $1.92 billion, up 21.2% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $170.06, while Tapestry also recently paid a quarterly dividend of $0.40 per share.

Valley Wealth Managers Inc. lessened its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 26.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,609 shares of the luxury accessories retailer's stock after selling 68,222 shares during the quarter. Tapestry comprises about 1.7% of Valley Wealth Managers Inc.'s investment portfolio, making the stock its 17th biggest holding. Valley Wealth Managers Inc. owned 0.09% of Tapestry worth $26,756,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an "overweight" rating and issued a $164.00 price objective on shares of Tapestry in a research note on Monday, July 6th. Robert W. Baird lifted their price objective on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Evercore set a $175.00 price target on shares of Tapestry in a research report on Friday, May 8th. Barclays boosted 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. Finally, BTIG Research restated a "buy" rating and set a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and an average price target of $170.06.

Tapestry Trading Down 1.9%

NYSE TPR opened at $141.43 on Friday. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The stock's 50 day moving average price is $141.43 and its two-hundred day moving average price is $142.04. The stock has a market capitalization of $28.57 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.30 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.Tapestry's quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 6.96 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders 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 was Friday, June 5th. Tapestry's dividend payout ratio is presently 51.28%.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry 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 owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.