OneDigital Investment Advisors LLC Acquires New Holdings in Tapestry, Inc. $TPR

OneDigital Investment Advisors LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) during the second quarter, Holdings Channel.com reports. The firm bought 7,071 shares of the luxury accessories retailer’s stock, valued at approximately $1,035,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Acumen Wealth Advisors LLC acquired a new position in shares of Tapestry during the fourth quarter worth $28,000. Triumph Capital Management acquired a new stake in shares of Tapestry during the 3rd quarter valued at $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry during the 4th quarter valued at $32,000. Cornerstone Planning Group LLC grew its position in Tapestry by 2,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after acquiring an additional 272 shares during the last quarter. Finally, HM Payson & Co. grew its position in Tapestry by 125.8% during the 4th quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer’s stock worth $37,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of Tapestry stock opened at $128.44 on Tuesday. The business has a 50-day moving average price of $146.23 and a two-hundred day moving average price of $144.77. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The company has a market cap of $25.61 billion, a P/E ratio of 17.62, a PEG ratio of 1.15 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) 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 company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $1.04 EPS. The firm’s 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. As a group, analysts anticipate that Tapestry, Inc. will post 7.88 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s payout ratio is presently 21.95%.

Insider Activity

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TPR shares. Telsey Advisory Group increased their target price on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Wells Fargo & Company reduced their price target on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday. Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. One analyst has 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Company 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.