Vontobel Holding Ltd. Sells 813 Shares of Tapestry, Inc. $TPR

Vontobel Holding Ltd. lowered its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,358 shares of the luxury accessories retailer’s stock after selling 813 shares during the period. Vontobel Holding Ltd.’s holdings in Tapestry were worth $997,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in Tapestry during the first quarter worth about $1,708,000. Nisa Investment Advisors LLC boosted its stake in Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock worth $4,460,000 after acquiring an additional 9,049 shares in the last quarter. Jump Financial LLC boosted its stake in Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after acquiring an additional 72,623 shares in the last quarter. Allworth Financial LP boosted its stake in Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after acquiring an additional 11,679 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Tapestry during the first quarter worth about $1,476,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 4.5%

TPR opened at $108.35 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The firm has a 50 day moving average price of $107.67 and a 200-day moving average price of $90.84. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.77. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 171.98, a PEG ratio of 2.61 and a beta of 1.57.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 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 during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $0.40 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s dividend payout ratio is currently 253.97%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Argus lifted their target price on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, June 17th. Evercore ISI decreased their target price on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Tapestry in a report on Thursday, September 11th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. Seventeen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $108.42.

Insider Buying and Selling

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the company’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 directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction that occurred 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 approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Company 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.