Proficio Capital Partners LLC Invests $750,000 in Tapestry, Inc. $TPR

Proficio Capital Partners LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,126 shares of the luxury accessories retailer’s stock, valued at approximately $750,000.

Several other hedge funds have also bought and sold shares of TPR. Eurizon Capital SGR S.p.A. bought a new position in shares of Tapestry in the fourth quarter worth approximately $8,109,000. Norges Bank purchased a new stake in shares of Tapestry in the fourth quarter worth $345,349,000. Keystone Investors PTE Ltd. raised its holdings in Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after acquiring an additional 9,303 shares during the period. SEB Asset Management AB bought a new stake in Tapestry during the first quarter valued at about $59,525,000. Finally, Vega Investment Solutions purchased a new position in shares of Tapestry in the second quarter valued at about $10,322,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $121.65 on Wednesday. The stock has a market capitalization of $24.26 billion, a PE ratio of 16.69, a P/E/G ratio of 1.56 and a beta of 1.42. The business has a 50 day simple moving average of $142.17 and a two-hundred day simple moving average of $143.97. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80.

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

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a $0.4625 dividend. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is presently 21.95%.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TPR shares. Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Telsey Advisory Group boosted their price target on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Wells Fargo & Company dropped their price target on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. UBS Group increased their price objective on shares of Tapestry from $230.00 to $232.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $175.12.

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.