Tapestry, Inc. $TPR Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding reduced its Tapestry stake by 36% in the third quarter, selling 9,648 shares and retaining 17,177 shares valued at approximately $1.98 million. Institutional investors collectively own 90.77% of Tapestry’s stock.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $173.56. Recent brokerages raised targets, although Wall Street Zen downgraded the stock to “hold.”
• Tapestry exceeded quarterly earnings and revenue estimates, reporting $1.32 in EPS and $1.88 billion in revenue, while increasing its quarterly dividend to $0.4625. Company insiders also sold shares, including CEO Joanne Crevoiserat’s $3.68 million transaction.

Vontobel Holding Ltd. lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 36.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,177 shares of the luxury accessories retailer's stock after selling 9,648 shares during the quarter. Vontobel Holding Ltd.'s holdings in Tapestry were worth $1,976,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Cetera Trust Company N.A purchased a new position in shares of Tapestry in the second quarter worth $26,000. Keating Financial Advisory Services Inc. bought a new position in shares of Tapestry during the second quarter worth $31,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the second quarter worth $32,000. GK Wealth Management LLC purchased a new position in Tapestry during the third quarter valued at $28,000. Finally, Elevation Wealth Partners LLC grew its stake in Tapestry by 336.8% during the second quarter. Elevation Wealth Partners LLC now owns 297 shares of the luxury accessories retailer's stock valued at $43,000 after acquiring an additional 229 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TPR. Daiwa Securities Group upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Barclays raised their price objective on Tapestry from $182.00 to $185.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Wall Street Zen cut Tapestry from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Telsey Advisory Group boosted their target price on Tapestry from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Tapestry from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.56.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the transaction, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the transaction, the insider owned 21,136 shares in the company, valued at $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.28% of the company's stock.

Tapestry Price Performance

TPR stock opened at $119.97 on Monday. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The company has a fifty day simple moving average of $122.41 and a two-hundred day simple moving average of $136.52. The firm has a market capitalization of $23.92 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.52 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were paid a $0.4625 dividend. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, September 4th. Tapestry's payout ratio is currently 25.38%.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company's portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women's footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.

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