Tapestry, Inc. $TPR Stock Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 17.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 43,040 shares of the luxury accessories retailer’s stock after acquiring an additional 6,273 shares during the quarter. Simplicity Wealth LLC’s holdings in Tapestry were worth $4,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Evergreen Capital Management LLC lifted its holdings in Tapestry by 2.1% during the third quarter. Evergreen Capital Management LLC now owns 9,358 shares of the luxury accessories retailer’s stock worth $1,077,000 after acquiring an additional 193 shares during the period. Capital Investment Advisors LLC bought a new position in Tapestry in the 3rd quarter valued at $245,000. Fifth Third Wealth Advisors LLC increased its position in shares of Tapestry by 45.0% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,496 shares of the luxury accessories retailer’s stock valued at $517,000 after purchasing an additional 1,396 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Tapestry by 0.6% during the 3rd quarter. Yousif Capital Management LLC now owns 20,146 shares of the luxury accessories retailer’s stock valued at $2,318,000 after purchasing an additional 111 shares during the last quarter. Finally, U S Global Investors Inc. increased its position in shares of Tapestry by 19.8% during the 3rd quarter. U S Global Investors Inc. now owns 4,845 shares of the luxury accessories retailer’s stock valued at $557,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In related news, insider Denise Kulikowsky sold 5,810 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the sale, the insider directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Joanne Crevoiserat sold 27,761 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the sale, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.28% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $110.34 on Monday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The business has a fifty day simple moving average of $119.18 and a two-hundred day simple moving average of $135.56. Tapestry, Inc. has a 1 year low of $93.00 and a 1 year high of $164.80. The company has a market capitalization of $22.00 billion, a P/E ratio of 15.14, a P/E/G ratio of 1.40 and a beta of 1.42.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the company posted $1.04 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were issued a $0.4625 dividend. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.85 annualized dividend and a yield of 1.7%. Tapestry’s payout ratio is 25.38%.

Analyst Ratings Changes

TPR has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Weiss Ratings raised shares of Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, Zacks Research downgraded shares of Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.56.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.