Valley National Advisers Inc. Trims Stock Position in Tapestry, Inc. $TPR

Valley National Advisers Inc. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 1.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 42,466 shares of the luxury accessories retailer’s stock after selling 681 shares during the period. Valley National Advisers Inc.’s holdings in Tapestry were worth $3,728,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TPR. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Tapestry during the 1st quarter worth $1,708,000. Nisa Investment Advisors LLC grew its stake in shares of Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock valued at $4,460,000 after purchasing an additional 9,049 shares during the last quarter. Jump Financial LLC raised its position in Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after buying an additional 72,623 shares during the last quarter. Allworth Financial LP boosted its holdings in Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock valued at $913,000 after purchasing an additional 11,679 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Tapestry during the 1st quarter worth approximately $1,476,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a report on Thursday, September 11th. UBS Group lowered their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Finally, Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $106.47.

Tapestry Price Performance

Shares of NYSE:TPR opened at $114.91 on Monday. The company has a market cap of $23.79 billion, a P/E ratio of 182.40, a P/E/G ratio of 2.77 and a beta of 1.57. The business has a fifty day simple moving average of $107.09 and a 200-day simple moving average of $89.45. Tapestry, Inc. has a 52 week low of $43.07 and a 52 week high of $117.77. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.92 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is presently 253.97%.

Insider Activity

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.

Tapestry Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.