IMG Wealth Management Inc. Invests $135,000 in Tapestry, Inc. $TPR

IMG Wealth Management Inc. acquired a new position in Tapestry, Inc. (NYSE:TPR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,536 shares of the luxury accessories retailer’s stock, valued at approximately $135,000.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Tapestry by 17.3% during the 1st quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer’s stock valued at $623,000 after buying an additional 1,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Tapestry by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 94,205 shares of the luxury accessories retailer’s stock valued at $6,633,000 after buying an additional 16,407 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Tapestry by 53.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,834 shares of the luxury accessories retailer’s stock valued at $552,000 after buying an additional 2,743 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Tapestry by 9.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,364 shares of the luxury accessories retailer’s stock valued at $448,000 after buying an additional 545 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Tapestry during the 1st quarter valued at $201,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. BTIG Research assumed coverage on shares of Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target for the company. UBS Group lowered their price target on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research report on Thursday, September 11th. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.00.

Tapestry Stock Down 0.4%

Shares of Tapestry stock opened at $116.32 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company’s fifty day simple moving average is $108.39 and its two-hundred day simple moving average is $92.80. The company has a market cap of $24.08 billion, a P/E ratio of 184.63, a PEG ratio of 2.82 and a beta of 1.57. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $118.56.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s payout ratio is currently 253.97%.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is owned by corporate insiders.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.