ZWJ Investment Counsel Inc. Sells 10,619 Shares of Tapestry, Inc. $TPR

ZWJ Investment Counsel Inc. lowered its position in Tapestry, Inc. (NYSE:TPR) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 97,938 shares of the luxury accessories retailer’s stock after selling 10,619 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Tapestry were worth $8,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. Rhumbline Advisers increased its stake in shares of Tapestry by 2.7% in the first quarter. Rhumbline Advisers now owns 408,115 shares of the luxury accessories retailer’s stock valued at $28,735,000 after buying an additional 10,580 shares during the period. NBC Securities Inc. increased its stake in shares of Tapestry by 172,300.0% in the first quarter. NBC Securities Inc. now owns 1,724 shares of the luxury accessories retailer’s stock valued at $121,000 after buying an additional 1,723 shares during the period. Merit Financial Group LLC increased its stake in shares of Tapestry by 89.2% in the first quarter. Merit Financial Group LLC now owns 23,082 shares of the luxury accessories retailer’s stock valued at $1,625,000 after buying an additional 10,879 shares during the period. Vest Financial LLC acquired a new position in shares of Tapestry in the first quarter valued at approximately $2,406,000. Finally, Curat Global LLC acquired a new position in shares of Tapestry in the first quarter valued at approximately $382,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s 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 sale, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $114.91 on Friday. The company has a market capitalization of $23.79 billion, a PE ratio of 182.40, a P/E/G ratio of 2.79 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $117.77. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The company has a 50 day simple moving average of $107.09 and a two-hundred day simple moving average of $89.22.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during 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%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current 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 given a dividend of $0.40 per share. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. 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%. Tapestry’s payout ratio is 253.97%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TPR shares. Barclays upped their price objective on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Telsey Advisory Group reissued an “outperform” rating and set a $125.00 target price on shares of Tapestry in a research report on Thursday, September 11th. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 22nd. Wells Fargo & Company increased their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $112.00 target price on shares of Tapestry in a research report on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $106.47.

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.