City Center Advisors LLC Lowers Holdings in Tapestry, Inc. $TPR

City Center Advisors LLC trimmed its position in Tapestry, Inc. (NYSE:TPR) by 14.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,466 shares of the luxury accessories retailer’s stock after selling 566 shares during the period. City Center Advisors LLC’s holdings in Tapestry were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kera Capital Partners Inc. purchased a new position in Tapestry in the 2nd quarter valued at $221,000. Invst LLC purchased a new position in Tapestry in the 1st quarter valued at $574,000. Strs Ohio purchased a new position in Tapestry in the 1st quarter valued at $1,090,000. Acadian Asset Management LLC purchased a new position in Tapestry in the 1st quarter valued at $493,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Tapestry during the 1st quarter worth $7,791,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were 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 directly owned 8,153 shares of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TPR shares. Morgan Stanley boosted their target price on shares of Tapestry from $90.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Evercore ISI decreased their target price on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. UBS Group decreased their target price on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Wells Fargo & Company boosted their target price on shares of Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Finally, Barclays boosted their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.47.

Tapestry Trading Down 0.3%

NYSE:TPR opened at $106.55 on Friday. The company has a market capitalization of $22.18 billion, a PE ratio of 169.13, a price-to-earnings-growth ratio of 2.68 and a beta of 1.52. 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 52-week low of $42.06 and a 52-week high of $114.05. The stock has a fifty day simple moving average of $103.86 and a 200-day simple moving average of $85.54.

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

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.40 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is presently 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.