Valley National Advisers Inc. Cuts Stake in Tapestry, Inc. $TPR

Valley National Advisers Inc. cut its position in Tapestry, Inc. (NYSE:TPR) by 1.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,466 shares of the luxury accessories retailer’s stock after selling 681 shares during the period. Valley National Advisers Inc.’s holdings in Tapestry were worth $3,728,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. First PREMIER Bank purchased a new position in Tapestry in the 2nd quarter worth about $25,000. Flaharty Asset Management LLC bought a new position in Tapestry during the first quarter valued at approximately $25,000. Harbour Investments Inc. boosted its holdings in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Tapestry in the first quarter worth approximately $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in Tapestry in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction dated 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 sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value 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. This trade represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Argus increased their price objective on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. UBS Group dropped their price objective on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and upped their target price for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.47.

Tapestry Trading Down 0.6%

TPR stock opened at $114.91 on Monday. The firm has a fifty day moving average price of $107.09 and a 200 day moving average price of $89.45. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $117.77. The firm has a market cap of $23.79 billion, a PE ratio of 182.40, a price-to-earnings-growth ratio of 2.77 and a beta of 1.57. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last released its 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. The firm had revenue of $1.72 billion for 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 company’s revenue for the quarter was up 8.3% compared to the same quarter last year. 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. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were 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 was Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. Tapestry’s dividend payout ratio (DPR) 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.