Elevatus Welath Management Trims Holdings in Tapestry, Inc. $TPR

Elevatus Welath Management lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 50.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,535 shares of the luxury accessories retailer’s stock after selling 16,848 shares during the quarter. Elevatus Welath Management’s holdings in Tapestry were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Essex Financial Services Inc. boosted its stake in Tapestry by 3.5% during the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after acquiring an additional 113 shares during the last quarter. Blue Trust Inc. increased its position in shares of Tapestry by 19.7% in the 3rd quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after purchasing an additional 122 shares during the last quarter. Wedmont Private Capital raised its stake in shares of Tapestry by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after purchasing an additional 139 shares in the last quarter. 44 Wealth Management LLC lifted its position in shares of Tapestry by 0.8% during the second quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock worth $1,670,000 after purchasing an additional 142 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in Tapestry by 53.2% in the third quarter. Whittier Trust Co. now owns 478 shares of the luxury accessories retailer’s stock worth $55,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, Director Anne Gates sold 6,498 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total value of $999,327.42. Following the completion of the transaction, the director owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. This represents a 22.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 164,956 shares of company stock worth $25,297,262 over the last quarter. Insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of several research reports. Telsey Advisory Group upped their price objective on Tapestry to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Guggenheim assumed coverage on Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating on the stock. Argus upgraded Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. UBS Group reaffirmed a “neutral” rating and issued a $141.00 price objective on shares of Tapestry in a report on Monday, February 9th. Finally, Wells Fargo & Company increased their target price on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Tapestry Trading Down 2.0%

Shares of NYSE TPR opened at $145.33 on Thursday. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $161.97. The company has a market cap of $29.42 billion, a price-to-earnings ratio of 60.05, a price-to-earnings-growth ratio of 1.78 and a beta of 1.55. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. The stock’s 50 day simple moving average is $141.41 and its 200 day simple moving average is $122.50.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping 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 period last year, the company earned $2.00 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s payout ratio is currently 66.12%.

Tapestry 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.