Parcion Private Wealth LLC Invests $249,000 in Tapestry, Inc. $TPR

Parcion Private Wealth LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,838 shares of the luxury accessories retailer’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Harbour Investments Inc. increased its holdings in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in Tapestry in the first quarter valued at about $25,000. First PREMIER Bank bought a new stake in Tapestry in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Tapestry in the first quarter valued at about $29,000. Finally, MorganRosel Wealth Management LLC bought a new stake in Tapestry in the first quarter valued at about $35,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Performance

Shares of TPR stock opened at $115.12 on Thursday. 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 business has a 50 day moving average of $108.54 and a two-hundred day moving average of $93.12. Tapestry, Inc. has a 52 week low of $43.07 and a 52 week high of $118.56. The company has a market cap of $23.83 billion, a P/E ratio of 182.73, a PEG ratio of 2.82 and a beta of 1.57.

Tapestry (NYSE:TPR) last issued 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. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The firm 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 boost from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. Tapestry’s payout ratio is presently 253.97%.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. Cowen reissued a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Sanford C. Bernstein reissued an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Finally, Evercore ISI decreased their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $110.75.

Insider Activity at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business’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 value of $780,712.10. Following the transaction, the vice president 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. Insiders own 1.32% of the company’s stock.

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.