Vest Financial LLC Buys 22,424 Shares of Tapestry, Inc. $TPR

Vest Financial LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 65.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,591 shares of the luxury accessories retailer’s stock after purchasing an additional 22,424 shares during the period. Vest Financial LLC’s holdings in Tapestry were worth $4,969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. GAMMA Investing LLC increased its holdings in shares of Tapestry by 17.3% during the first quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer’s stock worth $623,000 after buying an additional 1,304 shares in the last quarter. Fifth Third Bancorp grew its holdings in Tapestry by 7.6% during the 1st quarter. Fifth Third Bancorp now owns 18,834 shares of the luxury accessories retailer’s stock worth $1,326,000 after acquiring an additional 1,331 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Tapestry by 47.9% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 4,643 shares of the luxury accessories retailer’s stock worth $327,000 after acquiring an additional 1,504 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Tapestry by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 94,205 shares of the luxury accessories retailer’s stock worth $6,633,000 after acquiring an additional 16,407 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Tapestry during the 1st quarter worth about $35,000. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred on Thursday, September 11th. The shares were 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 directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred 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 transaction, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This represents a 27.20% 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 Analysts Forecast Growth

A number of equities analysts have recently issued reports on TPR shares. Evercore ISI cut their price objective 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $125.00 price objective on shares of Tapestry in a research note on Thursday, September 11th. Barclays increased their price objective on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Cowen reiterated a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $108.42.

Tapestry Trading Up 5.3%

Shares of TPR stock opened at $113.99 on Tuesday. The company has a 50 day moving average of $107.72 and a 200-day moving average of $91.15. 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 12-month low of $43.07 and a 12-month high of $117.77. The firm has a market cap of $23.60 billion, a P/E ratio of 180.94, a PEG ratio of 2.61 and a beta of 1.57.

Tapestry (NYSE:TPR) last issued 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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business posted $0.92 EPS. Tapestry’s quarterly 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. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. This is an increase from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Tapestry 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.