Highland Capital Management LLC Invests $217,000 in Tapestry, Inc. $TPR

Highland Capital Management LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) in the second quarter, HoldingsChannel reports. The firm bought 2,468 shares of the luxury accessories retailer’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 197 shares during the period. Flaharty Asset Management LLC bought a new position in shares of Tapestry in the 1st quarter worth about $25,000. First PREMIER Bank purchased a new position in Tapestry during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Tapestry during the 1st quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in Tapestry during the first quarter worth about $35,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Evercore ISI dropped their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. TD Cowen raised Tapestry from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Thursday, June 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.47.

Tapestry Stock Down 0.6%

Tapestry stock opened at $114.91 on Monday. Tapestry, Inc. has a 12 month low of $43.07 and a 12 month high of $117.77. The stock has a fifty day simple moving average of $107.09 and a two-hundred day simple moving average of $89.45. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 182.40, a PEG ratio of 2.77 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS 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 analysts’ expectations of $1.67 billion. During the same period last year, the firm posted $0.92 earnings per share. Tapestry’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $0.40 per share. 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. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. Tapestry’s dividend payout ratio is presently 253.97%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction on 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 sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value 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. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is owned by corporate insiders.

About Tapestry

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.