Norden Group LLC Lowers Stock Position in Tapestry, Inc. $TPR

Norden Group LLC lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 10.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,299 shares of the luxury accessories retailer’s stock after selling 702 shares during the period. Norden Group LLC’s holdings in Tapestry were worth $553,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Counterpoint Mutual Funds LLC purchased a new stake in shares of Tapestry in the 2nd quarter worth approximately $409,000. Gries Financial LLC purchased a new stake in shares of Tapestry in the 2nd quarter worth approximately $208,000. Caitlin John LLC purchased a new stake in shares of Tapestry in the 2nd quarter worth approximately $1,330,000. GAMMA Investing LLC lifted its position in shares of Tapestry by 11.9% in the 2nd quarter. GAMMA Investing LLC now owns 9,902 shares of the luxury accessories retailer’s stock worth $869,000 after purchasing an additional 1,054 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Tapestry by 9.1% in the 2nd quarter. Park Avenue Securities LLC now owns 6,399 shares of the luxury accessories retailer’s stock worth $562,000 after purchasing an additional 536 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TPR. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Monday. 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. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Finally, TD Cowen raised shares of Tapestry from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research report on Thursday, June 12th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $106.47.

Insider Buying and Selling

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction 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 sale, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction 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 sale, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company’s stock.

Tapestry Trading Down 5.0%

Shares of Tapestry stock opened at $107.72 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.31 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 $117.00. The firm has a market capitalization of $22.42 billion, a price-to-earnings ratio of 170.98, a PEG ratio of 2.73 and a beta of 1.52. The firm’s 50 day simple moving average is $106.38 and its two-hundred day simple moving average is $87.49.

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, beating analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business posted $0.92 EPS. Tapestry’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. Analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, September 5th. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio (DPR) is currently 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.