Tapestry, Inc. $TPR Stake Decreased by Avior Wealth Management LLC

Avior Wealth Management LLC lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 16.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,745 shares of the luxury accessories retailer’s stock after selling 2,470 shares during the quarter. Avior Wealth Management LLC’s holdings in Tapestry were worth $1,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TPR. 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 valued at $25,000 after acquiring an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the first quarter valued at approximately $25,000. First PREMIER Bank acquired a new position in shares of Tapestry during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry during the first quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Tapestry during the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TPR. Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and raised their price objective for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. TD Cowen upgraded shares of Tapestry from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Thursday, June 12th. Evercore ISI decreased their price target 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. Raymond James Financial restated an “outperform” rating and issued a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $106.47.

Insiders Place Their Bets

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction 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 at this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction 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 sale, the vice president directly owned 21,098 shares of the company’s stock, valued at $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 Trading Up 2.1%

NYSE TPR opened at $111.30 on Tuesday. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.00. 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 stock has a market cap of $23.16 billion, a price-to-earnings ratio of 176.66, a PEG ratio of 2.63 and a beta of 1.52. The firm’s 50 day moving average price is $106.59 and its two-hundred day moving average price is $88.27.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently announced 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 is an increase 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 dividend on an annualized basis and a dividend yield of 1.4%. Tapestry’s dividend payout ratio (DPR) 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.