Trust Co. of Toledo NA OH Makes New Investment in Tapestry, Inc. $TPR

Trust Co. of Toledo NA OH purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,869 shares of the luxury accessories retailer’s stock, valued at approximately $252,000.

A number of other large investors also recently made changes to their positions in the business. Private Trust Co. NA lifted its stake in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock worth $50,000 after purchasing an additional 153 shares during the period. Mather Group LLC. lifted its stake in shares of Tapestry by 2.8% during the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer’s stock worth $424,000 after purchasing an additional 165 shares during the period. Harbour Investments Inc. raised its position in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 197 shares during the period. MAI Capital Management boosted its holdings in Tapestry by 51.7% in the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer’s stock valued at $42,000 after acquiring an additional 202 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in Tapestry by 3.2% in the first quarter. Evergreen Capital Management LLC now owns 6,808 shares of the luxury accessories retailer’s stock valued at $479,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated 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 sale, the director directly 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 disclosure for this sale can be found here. 1.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. The Goldman Sachs Group raised their price objective on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Morgan Stanley restated an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $125.00 price objective on shares of Tapestry in a report on Thursday, September 11th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.42.

Tapestry Trading Down 4.5%

NYSE:TPR opened at $108.35 on Friday. The business’s 50-day moving average is $107.67 and its two-hundred day moving average is $90.72. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a 12 month low of $43.07 and a 12 month high of $117.77. The firm has a market capitalization of $22.43 billion, a PE ratio of 171.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.57.

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

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given 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 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is presently 253.97%.

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.