Sagespring Wealth Partners LLC Buys Shares of 2,702 Tapestry, Inc. $TPR

Sagespring Wealth Partners LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,702 shares of the luxury accessories retailer’s stock, valued at approximately $237,000.

Other large investors have also recently made changes to their positions in the company. First PREMIER Bank acquired a new position in shares of Tapestry in the 2nd quarter worth approximately $25,000. Flaharty Asset Management LLC acquired a new position in shares of Tapestry in the 1st quarter worth approximately $25,000. Harbour Investments Inc. lifted its holdings in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry in the 1st quarter worth approximately $29,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Tapestry in the 2nd quarter worth approximately $37,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of TPR opened at $116.70 on Friday. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $118.56. The firm’s 50 day moving average price is $108.22 and its 200 day moving average price is $92.24. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The company has a market cap of $24.16 billion, a P/E ratio of 185.23, a PEG ratio of 2.82 and a beta of 1.57.

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

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Wall Street Analyst Weigh In

TPR has been the topic of several recent analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tapestry in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 22nd. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Insiders Place Their Bets

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by company insiders.

Tapestry Company 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.