Legacy Capital Group California Inc. Has $1.17 Million Position in Tapestry, Inc. $TPR

Legacy Capital Group California Inc. cut its holdings in Tapestry, Inc. (NYSE:TPR) by 27.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,350 shares of the luxury accessories retailer’s stock after selling 3,911 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Tapestry were worth $1,172,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TPR. Cloud Capital Management LLC acquired a new stake in Tapestry in the 3rd quarter valued at about $26,000. Vestor Capital LLC acquired a new position in shares of Tapestry during the second quarter worth approximately $27,000. Johnson Financial Group Inc. bought a new stake in shares of Tapestry during the second quarter valued at approximately $39,000. SJS Investment Consulting Inc. increased its holdings in shares of Tapestry by 2,171.4% in the third quarter. SJS Investment Consulting Inc. now owns 477 shares of the luxury accessories retailer’s stock valued at $54,000 after purchasing an additional 456 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Tapestry by 53.2% in the third quarter. Whittier Trust Co. now owns 478 shares of the luxury accessories retailer’s stock valued at $55,000 after purchasing an additional 166 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of Tapestry stock opened at $144.10 on Friday. The firm has a fifty day moving average of $140.38 and a two-hundred day moving average of $121.34. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The stock has a market capitalization of $29.17 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.79 and a beta of 1.55. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is currently 66.12%.

Insider Buying and Selling at Tapestry

In other news, Director Thomas Greco sold 14,245 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the completion of the transaction, the director owned 21,302 shares of the company’s stock, valued at $3,289,880.88. The trade was a 40.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd Kahn sold 39,815 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $151.34, for a total value of $6,025,602.10. Following the sale, the chief executive officer directly owned 120,578 shares in the company, valued at $18,248,274.52. The trade was a 24.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 164,956 shares of company stock worth $25,297,262 over the last ninety days. 1.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on TPR. Argus raised Tapestry to a “strong-buy” rating in a report on Friday, January 16th. Evercore boosted their target price on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. BTIG Research upped their price target on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Robert W. Baird set a $160.00 price objective on Tapestry in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

About Tapestry

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.