Paralel Advisors LLC Takes $2.40 Million Position in Tapestry, Inc. $TPR

Paralel Advisors LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 16,388 shares of the luxury accessories retailer’s stock, valued at approximately $2,399,000.

Other institutional investors have also bought and sold shares of the company. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry in the fourth quarter valued at about $28,000. Virtus Advisers LLC purchased a new stake in shares of Tapestry during the second quarter worth about $32,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry during the 4th quarter valued at approximately $32,000. Triumph Capital Management bought a new stake in Tapestry during the 3rd quarter valued at approximately $29,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after purchasing an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on TPR. Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday. Wells Fargo & Company reduced their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, BTIG Research reduced their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $175.12.

Tapestry Price Performance

Shares of Tapestry stock opened at $129.38 on Friday. The firm has a market cap of $25.80 billion, a PE ratio of 17.75, a PEG ratio of 1.67 and a beta of 1.43. The stock has a 50 day moving average of $145.46 and a 200 day moving average of $144.86. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, research analysts expect that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is 21.95%.

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.