Perigon Wealth Management LLC Acquires Shares of 3,884 Tapestry, Inc. $TPR

Perigon Wealth Management LLC bought a new position in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,884 shares of the luxury accessories retailer’s stock, valued at approximately $440,000.

Other institutional investors have also recently made changes to their positions in the company. Flaharty Asset Management LLC purchased a new position in Tapestry in the 1st quarter worth approximately $25,000. First PREMIER Bank purchased a new position in shares of Tapestry in the second quarter worth $25,000. Vestor Capital LLC bought a new position in shares of Tapestry during the second quarter valued at $27,000. CVA Family Office LLC boosted its position in shares of Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after buying an additional 263 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Tapestry during the second quarter valued at $37,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $129.17 on Friday. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $131.40. The firm has a market capitalization of $26.44 billion, a price-to-earnings ratio of 115.33, a price-to-earnings-growth ratio of 2.63 and a beta of 1.63. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The firm has a 50 day moving average of $114.77 and a 200 day moving average of $108.02.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the company posted $0.84 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were given a $0.40 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s dividend payout ratio is presently 142.86%.

Tapestry declared that its board has authorized a share buyback program on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have weighed in on TPR. The Goldman Sachs Group boosted their target price on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Evercore ISI boosted their price objective on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 target price on shares of Tapestry in a report on Wednesday, December 17th. Robert W. Baird set a $140.00 target price on shares of Tapestry in a research report on Wednesday, December 17th. Finally, Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

Insiders Place Their Bets

In related news, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 10,344 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $107.00, for a total transaction of $1,106,808.00. Following the completion of the sale, the chief executive officer directly owned 131,815 shares of the company’s stock, valued at $14,104,205. This represents a 7.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.