Wealth Enhancement Advisory Services LLC Has $9.79 Million Stake in Tapestry, Inc. $TPR

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Tapestry, Inc. by 15.2%, now holding approximately $9.79 million in shares.
• Director Alan Ka Ming Lau sold 11,320 shares of Tapestry, reducing their stake by 58.13%, while VP Manesh Dadlani sold 7,882 shares, representing a 27.20% decrease in their position.
• Multiple analysts have upgraded Tapestry's stock price targets, with Barclays moving from $111 to $127 and JPMorgan Chase increasing their target from $139 to $142, reflecting positive sentiment around the company.

Wealth Enhancement Advisory Services LLC grew its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 108,533 shares of the luxury accessories retailer's stock after purchasing an additional 14,328 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.05% of Tapestry worth $9,790,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Atticus Wealth Management LLC acquired a new stake in shares of Tapestry in the second quarter valued at about $851,000. Baader Bank Aktiengesellschaft grew its position in shares of Tapestry by 84.1% in the second quarter. Baader Bank Aktiengesellschaft now owns 19,663 shares of the luxury accessories retailer's stock valued at $1,727,000 after purchasing an additional 8,980 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Tapestry by 10.0% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,414 shares of the luxury accessories retailer's stock valued at $475,000 after purchasing an additional 494 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Tapestry during the second quarter worth about $602,000. Finally, Reinhart Partners LLC. grew its position in Tapestry by 17.6% during the second quarter. Reinhart Partners LLC. now owns 146,891 shares of the luxury accessories retailer's stock worth $12,899,000 after buying an additional 21,942 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the company's stock in a transaction dated 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 transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TPR shares. Telsey Advisory Group reissued an "outperform" rating and set a $125.00 target price on shares of Tapestry in a research report on Thursday, September 11th. Barclays lifted their target price on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. lifted 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 shares of Tapestry from a "buy" rating to a "neutral" rating and raised their price target for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company raised their price target on shares of Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $106.47.

Tapestry Trading Down 0.3%

TPR opened at $113.86 on Tuesday. The stock has a market capitalization of $23.70 billion, a P/E ratio of 180.73, a P/E/G ratio of 2.75 and a beta of 1.52. Tapestry, Inc. has a 12 month low of $42.95 and a 12 month high of $115.35. The firm's fifty day simple moving average is $105.73 and its 200 day simple moving average is $86.85. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the firm posted $0.92 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 253.97%.

Tapestry Company 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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