Tapestry, Inc. $TPR Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. trimmed its holdings in Tapestry, Inc. (NYSE:TPR) by 23.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 150,265 shares of the luxury accessories retailer’s stock after selling 46,848 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Tapestry were worth $17,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in TPR. Convergence Financial LLC boosted its position in Tapestry by 3.0% during the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after acquiring an additional 98 shares during the period. Essex Financial Services Inc. raised its stake in shares of Tapestry by 3.5% during the third quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after purchasing an additional 113 shares in the last quarter. Earned Wealth Advisors LLC raised its stake in shares of Tapestry by 1.6% during the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after purchasing an additional 116 shares in the last quarter. Blue Trust Inc. lifted its holdings in Tapestry by 19.7% in the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after purchasing an additional 122 shares during the period. Finally, Wedmont Private Capital grew its position in Tapestry by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after buying an additional 139 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other Tapestry news, Director Anne Gates sold 6,498 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total value of $999,327.42. Following the completion of the sale, the director owned 22,698 shares of the company’s stock, valued at $3,490,725.42. The trade was a 22.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 165,539 shares of company stock valued at $25,364,406 in the last three months. 1.32% of the stock is currently owned by company insiders.

Tapestry Trading Down 2.8%

NYSE TPR opened at $152.76 on Tuesday. The firm’s 50 day moving average price is $135.51 and its two-hundred day moving average price is $118.47. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $158.28. The stock has a market cap of $30.93 billion, a price-to-earnings ratio of 63.13, a PEG ratio of 1.93 and a beta of 1.63.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry announced that its Board of Directors has authorized a stock buyback program on Thursday, November 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s payout ratio is presently 66.12%.

Analysts Set New Price Targets

TPR has been the topic of a number of research analyst reports. Argus upgraded shares of Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and lowered their price target for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. BTIG Research upped their price objective on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and set a $141.00 target price on shares of Tapestry in a research note on Monday, February 9th. Finally, Robert W. Baird set a $160.00 target price on Tapestry in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $147.00.

About Tapestry

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.