Brighton Jones LLC Grows Stock Holdings in Tapestry, Inc. $TPR

Brighton Jones LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 293.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,766 shares of the luxury accessories retailer’s stock after purchasing an additional 10,268 shares during the period. Brighton Jones LLC’s holdings in Tapestry were worth $1,209,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. 1858 Wealth Management LLC raised its stake in Tapestry by 2.5% during the 2nd quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after acquiring an additional 95 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Tapestry by 27.2% during the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock worth $50,000 after acquiring an additional 153 shares during the period. Mather Group LLC. increased its stake in shares of Tapestry by 2.8% during the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer’s stock worth $424,000 after acquiring an additional 165 shares during the period. Harbour Investments Inc. increased its stake in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 197 shares during the period. Finally, MAI Capital Management grew its position in Tapestry by 51.7% during the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer’s stock worth $42,000 after buying an additional 202 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other 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 transaction, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The stock was 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 directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Wells Fargo & Company upped their price objective on shares of Tapestry from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Jefferies Financial Group increased their price target on shares of Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $114.10.

Tapestry Price Performance

Shares of NYSE:TPR opened at $114.97 on Tuesday. The company has a market cap of $23.80 billion, a PE ratio of 182.50, a P/E/G ratio of 2.76 and a beta of 1.57. The firm has a 50-day simple moving average of $109.50 and a 200 day simple moving average of $94.61. Tapestry, Inc. has a fifty-two week low of $46.77 and a fifty-two week high of $118.56. 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 (NYSE:TPR) last issued its quarterly earnings data 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 net margin of 2.61% and a return on equity of 68.02%. Tapestry’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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