Prospera Financial Services Inc Grows Stock Position in Tapestry, Inc. $TPR

Prospera Financial Services Inc boosted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 137.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,742 shares of the luxury accessories retailer’s stock after acquiring an additional 17,228 shares during the quarter. Prospera Financial Services Inc’s holdings in Tapestry were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TPR. Nuveen LLC bought a new stake in Tapestry in the first quarter valued at approximately $59,133,000. AQR Capital Management LLC raised its holdings in Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after buying an additional 838,057 shares during the last quarter. Samlyn Capital LLC boosted its position in Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after buying an additional 658,889 shares during the period. Southpoint Capital Advisors LP grew its holdings in Tapestry by 25.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock worth $176,025,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Tapestry by 292.8% in the first quarter. Royal Bank of Canada now owns 305,590 shares of the luxury accessories retailer’s stock valued at $21,516,000 after acquiring an additional 464,113 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Up 2.3%

NYSE TPR opened at $106.05 on Tuesday. The firm has a market capitalization of $21.95 billion, a PE ratio of 168.33, a P/E/G ratio of 2.72 and a beta of 1.71. The stock’s 50 day moving average is $111.03 and its 200 day moving average is $97.88. Tapestry, Inc. has a twelve month low of $49.84 and a twelve month high of $118.56. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, December 5th. Tapestry’s dividend payout ratio is 142.86%.

Tapestry declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays increased their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. The Goldman Sachs Group lifted their price objective on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. UBS Group decreased their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Morgan Stanley raised their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company reduced their price objective on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.25.

Insider Buying and Selling

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

About Tapestry

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.