EP Wealth Advisors LLC Purchases New Position in Tapestry, Inc. $TPR

EP Wealth Advisors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,595 shares of the luxury accessories retailer’s stock, valued at approximately $819,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keating Financial Advisory Services Inc. acquired a new position in shares of Tapestry in the 2nd quarter valued at $31,000. Acumen Wealth Advisors LLC acquired a new stake in Tapestry during the fourth quarter valued at $28,000. Virtus Advisers LLC purchased a new position in Tapestry in the second quarter valued at $32,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Tapestry in the fourth quarter valued at $32,000. Finally, Triumph Capital Management acquired a new position in shares of Tapestry in the third quarter worth about $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TPR. JPMorgan Chase & Co. upped their price target on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Barclays raised their price objective on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Robert W. Baird boosted their price objective on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. UBS Group upped their target price on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Citigroup increased their target price on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $175.12.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the transaction, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $130.66 on Monday. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company has a market cap of $26.05 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.65 and a beta of 1.43. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The company’s 50-day moving average price is $145.13 and its 200-day moving average price is $144.87.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. Tapestry’s quarterly revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, sell-side analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s dividend payout ratio is presently 21.95%.

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.