Proficio Capital Partners LLC Takes Position in Tapestry, Inc. $TPR

Proficio Capital Partners LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,126 shares of the luxury accessories retailer’s stock, valued at approximately $750,000.

A number of other institutional investors also recently bought and sold shares of the stock. World Investment Advisors increased its position in Tapestry by 3.6% during the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after acquiring an additional 69 shares during the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Tapestry by 4.7% in the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after acquiring an additional 71 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Tapestry by 2.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock worth $477,000 after acquiring an additional 73 shares during the last quarter. Eastern Bank lifted its holdings in shares of Tapestry by 24.4% in the 2nd quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock worth $57,000 after acquiring an additional 77 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its stake in shares of Tapestry by 2.7% during the 1st quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock worth $450,000 after purchasing an additional 85 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. BTIG Research cut their target price on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Telsey Advisory Group increased their price target on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Barclays raised their price target on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.12.

Tapestry Trading Down 1.4%

NYSE TPR opened at $121.65 on Wednesday. The stock has a market cap of $24.26 billion, a PE ratio of 16.69, a PEG ratio of 1.56 and a beta of 1.42. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80. The company’s 50-day moving average price is $142.17 and its 200-day moving average price is $143.97. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities research analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s payout ratio is presently 21.95%.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.