Valley Wealth Managers Inc. Decreases Holdings in Tapestry, Inc. $TPR

Valley Wealth Managers Inc. lowered its position in shares of Tapestry, Inc. (NYSE:TPR) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 261,239 shares of the luxury accessories retailer’s stock after selling 6,126 shares during the quarter. Tapestry makes up about 2.0% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 10th largest position. Valley Wealth Managers Inc. owned approximately 0.13% of Tapestry worth $29,577,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Tapestry during the 3rd quarter worth about $26,000. Vestor Capital LLC acquired a new stake in shares of Tapestry during the 2nd quarter worth approximately $27,000. CVA Family Office LLC raised its stake in shares of Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after buying an additional 263 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Tapestry in the second quarter valued at approximately $37,000. Finally, Johnson Financial Group Inc. bought a new position in Tapestry in the second quarter valued at approximately $39,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the subject of several recent research reports. Citigroup upped their target price on shares of Tapestry from $124.00 to $152.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Guggenheim assumed coverage on Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Raymond James Financial increased their price target on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $129.11.

Insider Buying and Selling

In other news, CFO Scott A. Roe sold 18,794 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $104.85, for a total value of $1,970,550.90. Following the sale, the chief financial officer directly owned 148,149 shares in the company, valued at $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 115,485 shares of company stock valued at $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $127.18 on Friday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $136.04. The company’s 50 day moving average price is $124.22 and its two-hundred day moving average price is $113.57. The company has a market capitalization of $26.03 billion, a P/E ratio of 113.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.63.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. Tapestry’s dividend payout ratio (DPR) is currently 142.86%.

Tapestry declared that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Tapestry Company 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.