Tapestry, Inc. $TPR Stake Lessened by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Tapestry stake by 80.2% in the third quarter, selling 10,638 shares and retaining 2,623 shares worth approximately $302,000. Institutional investors collectively own 90.77% of Tapestry.
• Tapestry reported quarterly revenue of $1.88 billion and EPS of $1.32, exceeding analyst expectations, while revenue increased 8.9% year over year. The company also raised its quarterly dividend to $0.4625, representing a 1.5% annualized yield.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $173.56, despite several firms lowering their targets.

Curated Wealth Partners LLC lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 80.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,623 shares of the luxury accessories retailer's stock after selling 10,638 shares during the quarter. Curated Wealth Partners LLC's holdings in Tapestry were worth $302,000 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. Mather Group LLC. lifted its holdings in shares of Tapestry by 23.4% in the third quarter. Mather Group LLC. now owns 8,658 shares of the luxury accessories retailer's stock worth $996,000 after buying an additional 1,639 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of Tapestry by 41.4% during the third quarter. Fortitude Family Office LLC now owns 1,065 shares of the luxury accessories retailer's stock worth $123,000 after acquiring an additional 312 shares during the last quarter. Tempus Wealth Planning LLC purchased a new position in Tapestry during the third quarter valued at $220,000. First Citizens Bank & Trust Co. grew its stake in Tapestry by 22.3% during the third quarter. First Citizens Bank & Trust Co. now owns 2,246 shares of the luxury accessories retailer's stock valued at $258,000 after acquiring an additional 409 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Tapestry during the third quarter valued at $411,000. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Up 0.2%

Shares of TPR opened at $119.97 on Friday. The company's fifty day moving average is $122.41 and its 200 day moving average is $136.53. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The stock has a market capitalization of $23.92 billion, a PE ratio of 16.46, a P/E/G ratio of 1.52 and a beta of 1.42. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75.

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

Tapestry Increases Dividend

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

Insider Transactions at Tapestry

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

Analyst Ratings Changes

A number of brokerages have issued reports on TPR. BTIG Research reduced their price target on shares of Tapestry from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Morgan Stanley dropped their price objective on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a report on Friday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Daiwa Securities Group upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Finally, Zacks Research cut Tapestry from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.56.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company's portfolio includes Coach, Kate Spade New York, Stuart Weitzman, Versace, Jimmy Choo and Michael Kors, offering handbags, footwear, apparel, jewelry, watches, accessories, fragrances and related products.

Tapestry sells its products through company-operated stores, brand websites and other digital channels, as well as wholesale partners, department stores, specialty retailers and travel-retail locations.

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.