Fortis Capital Advisors LLC Purchases Shares of 5,025 Tapestry, Inc. $TPR

Fortis Capital Advisors LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 5,025 shares of the luxury accessories retailer’s stock, valued at approximately $569,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Vestor Capital LLC purchased a new stake in shares of Tapestry during the 2nd quarter valued at about $27,000. CVA Family Office LLC boosted its stake in Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after acquiring an additional 263 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Tapestry during the second quarter worth about $37,000. Johnson Financial Group Inc. bought a new position in Tapestry during the 2nd quarter worth approximately $39,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Tapestry during the second quarter worth $45,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent research reports. Robert W. Baird set a $140.00 target price on shares of Tapestry in a report on Wednesday, December 17th. Guggenheim initiated coverage on Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 price objective on shares of Tapestry in a report on Wednesday, December 17th. JPMorgan Chase & Co. raised their target price on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Finally, Argus upgraded shares of Tapestry to a “strong-buy” rating in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.11.

Tapestry Trading Up 1.1%

Tapestry stock opened at $127.53 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04. The company’s fifty day simple moving average is $123.29 and its 200-day simple moving average is $113.38. The stock has a market cap of $26.10 billion, a P/E ratio of 113.87, a P/E/G ratio of 2.17 and a beta of 1.63.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, December 5th. Tapestry’s dividend payout ratio (DPR) is 142.86%.

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

Insiders Place Their Bets

In related news, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the sale, the insider directly owned 55,354 shares in the company, valued at approximately $5,673,785. The trade was a 31.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Kahn sold 29,000 shares of Tapestry stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the completion of the transaction, the chief executive officer directly owned 86,736 shares in the company, valued at approximately $8,919,062.88. This represents a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 115,485 shares of company stock worth $12,034,058 in the last three months. 1.32% of the stock is owned by insiders.

Tapestry Company 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.