Vanguard Personalized Indexing Management LLC Increases Stake in Tapestry, Inc. $TPR

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Tapestry, Inc. by 7.6%, owning 37,314 shares valued at approximately $3.28 million as of the end of the last reporting period.
• Analysts show confidence in Tapestry with multiple upgrades; Wells Fargo raised its target price to $120, while JPMorgan increased it to $142, both maintaining an "overweight" rating.
• Tapestry recently announced a dividend increase to $0.40 per share, representing an annualized yield of 1.4%, reflecting the company's financial growth amid a strong quarter with reported earnings above expectations.

Vanguard Personalized Indexing Management LLC boosted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,314 shares of the luxury accessories retailer's stock after purchasing an additional 2,643 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Tapestry were worth $3,277,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in Tapestry in the 1st quarter worth approximately $1,708,000. Nisa Investment Advisors LLC increased its stake in Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock worth $4,460,000 after purchasing an additional 9,049 shares during the period. Jump Financial LLC increased its stake in Tapestry by 1,025.9% in the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Allworth Financial LP increased its stake in Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock worth $913,000 after purchasing an additional 11,679 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Tapestry in the 1st quarter worth approximately $1,476,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. lifted their price objective on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. UBS Group cut their price objective on Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, BTIG Research initiated coverage on Tapestry in a research report on Tuesday. They issued a "buy" rating and a $140.00 price objective on the stock. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $110.00.

Insiders Place Their Bets

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

Tapestry Trading Up 2.0%

NYSE TPR opened at $116.31 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.77. The firm has a market capitalization of $24.08 billion, a PE ratio of 184.61, a P/E/G ratio of 2.75 and a beta of 1.57. The stock's 50 day moving average is $107.81 and its 200 day moving average is $91.32.

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, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry's dividend payout ratio (DPR) is presently 253.97%.

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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