Parcion Private Wealth LLC Invests $249,000 in Tapestry, Inc. $TPR

Parcion Private Wealth LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,838 shares of the luxury accessories retailer’s stock, valued at approximately $249,000.

Several other hedge funds have also made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in shares of Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Southpoint Capital Advisors LP boosted its holdings in shares of Tapestry by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock worth $176,025,000 after purchasing an additional 500,000 shares during the last quarter. Samlyn Capital LLC boosted its holdings in shares of Tapestry by 50.2% during the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after purchasing an additional 658,889 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Tapestry by 21.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer’s stock worth $116,310,000 after purchasing an additional 288,219 shares during the last quarter. Finally, WT Asset Management Ltd boosted its holdings in shares of Tapestry by 140.6% during the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock worth $110,870,000 after purchasing an additional 920,087 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

In other news, 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 transaction of $1,202,070.80. Following the sale, the director directly owned 8,153 shares of the company’s stock, 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 can be accessed through this hyperlink. Also, 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 value of $780,712.10. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TPR shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Barclays lifted their target price on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. The Goldman Sachs Group lifted their target price on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Wells Fargo & Company lifted their target price on Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a report on Monday, September 22nd. Eighteen equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.75.

Tapestry Trading Down 1.7%

NYSE:TPR opened at $115.12 on Thursday. The business’s 50-day moving average is $108.54 and its two-hundred day moving average is $93.12. 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 $118.56. The firm has a market capitalization of $23.83 billion, a PE ratio of 182.73, a price-to-earnings-growth ratio of 2.82 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 analyst estimates of $1.67 billion. During the same period last year, the company posted $0.92 earnings per share. The firm’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. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s dividend payout ratio is 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.