Diversify Wealth Management LLC Purchases New Position in Tapestry, Inc. $TPR

Diversify Wealth Management LLC acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the 1st quarter, Holdings Channel reports. The fund acquired 5,777 shares of the luxury accessories retailer’s stock, valued at approximately $818,000.

Other hedge funds also recently made changes to their positions in the company. Acumen Wealth Advisors LLC purchased a new stake in shares of Tapestry in the 4th quarter valued at about $28,000. Steph & Co. grew its stake in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after buying an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry during the 4th quarter worth approximately $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Tapestry during the 4th quarter worth approximately $32,000. Finally, Triumph Capital Management acquired a new position in Tapestry during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a report on Wednesday, June 10th. UBS Group lifted their target price on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Barclays upped their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Morgan Stanley reissued an “overweight” rating and set a $164.00 price objective on shares of Tapestry in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $170.06.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the completion of the sale, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.32% of the company’s stock.

Tapestry Stock Up 2.9%

Tapestry stock opened at $144.29 on Friday. The stock has a 50 day moving average of $141.27 and a two-hundred day moving average of $142.05. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. The stock has a market capitalization of $29.15 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.29 and a beta of 1.43. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is 51.28%.

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.