Clarion Wealth Managment Partners LLC Invests $2.22 Million in Tapestry, Inc. $TPR

Clarion Wealth Managment Partners LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,194 shares of the luxury accessories retailer’s stock, valued at approximately $2,224,000. Tapestry comprises about 1.8% of Clarion Wealth Managment Partners LLC’s holdings, making the stock its 10th largest position.

A number of other hedge funds have also added to or reduced their stakes in TPR. Eurizon Capital SGR S.p.A. acquired a new stake in Tapestry in the fourth quarter worth $8,109,000. Norges Bank bought a new stake in shares of Tapestry during the fourth quarter worth about $345,349,000. Keystone Investors PTE Ltd. grew its holdings in Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after buying an additional 9,303 shares in the last quarter. SEB Asset Management AB purchased a new position in Tapestry during the first quarter worth about $59,525,000. Finally, North Dakota State Investment Board bought a new stake in Tapestry in the 4th quarter worth about $2,417,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on TPR shares. Sanford C. Bernstein reiterated a “market perform” rating and issued a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Morgan Stanley decreased their price objective on Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Weiss Ratings raised shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. JPMorgan Chase & Co. upped their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Telsey Advisory Group increased their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Two research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Price Performance

Shares of Tapestry stock opened at $130.66 on Monday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The business’s 50 day simple moving average is $145.13 and its two-hundred day simple moving average is $144.87. The stock has a market capitalization of $26.05 billion, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43.

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

Tapestry Increases Dividend

The company also recently declared 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%. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio is currently 21.95%.

Insiders Place Their Bets

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

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.