Trust Co. of Toledo NA OH Takes Position in Tapestry, Inc. $TPR

Trust Co. of Toledo NA OH bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,869 shares of the luxury accessories retailer's stock, valued at approximately $252,000.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Telsey Advisory Group reaffirmed an "outperform" rating and set a $125.00 price objective on shares of Tapestry in a research note on Thursday, September 11th. Evercore ISI dropped their target price on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. JPMorgan Chase & Co. boosted their target price on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Finally, Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $108.42.

Tapestry Stock Performance

TPR opened at $108.35 on Friday. The stock has a market cap of $22.43 billion, a P/E ratio of 171.98, a P/E/G ratio of 2.61 and a beta of 1.57. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock's 50 day simple moving average is $107.67 and its 200 day simple moving average is $90.72. Tapestry, Inc. has a 1-year low of $43.07 and a 1-year high of $117.77.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The business 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 company's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 253.97%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Tapestry Profile

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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