Allworth Financial LP Raises Stock Position in Tapestry, Inc. $TPR

Allworth Financial LP increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 66.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,403 shares of the luxury accessories retailer’s stock after acquiring an additional 9,324 shares during the period. Allworth Financial LP’s holdings in Tapestry were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Cloud Capital Management LLC purchased a new position in shares of Tapestry during the 3rd quarter valued at $26,000. Vestor Capital LLC bought a new position in shares of Tapestry in the second quarter worth $27,000. Triumph Capital Management purchased a new stake in shares of Tapestry in the third quarter worth $29,000. Johnson Financial Group Inc. bought a new stake in Tapestry during the second quarter valued at $39,000. Finally, Larson Financial Group LLC boosted its stake in Tapestry by 210.4% during the third quarter. Larson Financial Group LLC now owns 388 shares of the luxury accessories retailer’s stock valued at $44,000 after buying an additional 263 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TPR has been the topic of several recent analyst reports. Robert W. Baird set a $160.00 price target on Tapestry in a report on Friday, February 6th. Citigroup boosted their price objective on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Zacks Research upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and lowered their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. Finally, Guggenheim assumed coverage on shares of Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $151.06.

Insider Activity

In other news, Director Thomas Greco sold 14,245 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the completion of the sale, the director owned 21,302 shares of the company’s stock, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Kahn sold 39,815 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $151.34, for a total value of $6,025,602.10. Following the sale, the chief executive officer owned 120,578 shares of the company’s stock, valued at $18,248,274.52. This represents a 24.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 164,956 shares of company stock valued at $25,297,262. Company insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $140.55 on Friday. The stock’s 50-day moving average is $142.92 and its 200 day moving average is $124.48. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 58.08, a P/E/G ratio of 1.69 and a beta of 1.55. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $161.97. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Tapestry’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. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is 66.12%.

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.