Sequoia Financial Advisors LLC Purchases New Stake in Tapestry, Inc. $TPR

Sequoia Financial Advisors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 2,583 shares of the luxury accessories retailer’s stock, valued at approximately $227,000.

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

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated 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 transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Down 0.5%

TPR stock opened at $114.77 on Friday. The company has a market capitalization of $23.76 billion, a P/E ratio of 182.18, a PEG ratio of 2.77 and a beta of 1.57. The firm has a 50 day simple moving average of $108.92 and a 200-day simple moving average of $93.48. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a twelve month low of $43.58 and a twelve month high of $118.56.

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

Tapestry Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Evercore ISI cut their price target on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Barclays increased their price objective on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Tapestry in a research report on Thursday, September 11th. Bank of America downgraded shares of Tapestry from a “buy” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $113.35.

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.