Americana Partners LLC Takes $374,000 Position in Tapestry, Inc. $TPR

Americana Partners LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,256 shares of the luxury accessories retailer’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. 1858 Wealth Management LLC increased its holdings in shares of Tapestry by 2.5% during the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after buying an additional 95 shares in the last quarter. Convergence Financial LLC lifted its stake in shares of Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares during the period. Earned Wealth Advisors LLC lifted its position in shares of Tapestry by 1.6% during the 2nd quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after acquiring an additional 116 shares during the period. Zions Bancorporation National Association UT increased its position in Tapestry by 9.3% in the 2nd quarter. Zions Bancorporation National Association UT now owns 2,029 shares of the luxury accessories retailer’s stock valued at $178,000 after buying an additional 172 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 7,882 shares of the company’s 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 transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry 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 sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.32% of the company’s stock.

Tapestry Price Performance

TPR opened at $102.07 on Wednesday. Tapestry, Inc. has a 12-month low of $49.84 and a 12-month high of $118.56. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The stock has a fifty day simple moving average of $111.02 and a two-hundred day simple moving average of $98.12. The company has a market cap of $21.13 billion, a price-to-earnings ratio of 162.01, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry declared that its board has approved a share repurchase plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. Tapestry’s dividend payout ratio (DPR) is 142.86%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Evercore ISI increased their price objective on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Jefferies Financial Group increased their target price on Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Raymond James Financial lifted their target price on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $116.25.

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.