Tapestry, Inc. $TPR Stock Sold by Monument Capital Management

Monument Capital Management decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 87.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,409 shares of the luxury accessories retailer’s stock after selling 24,312 shares during the quarter. Monument Capital Management’s holdings in Tapestry were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TPR. BlackRock Inc. purchased a new stake in Tapestry during the 2nd quarter worth approximately $2,610,995,000. Bank of America Corp DE acquired a new position in shares of Tapestry in the second quarter worth $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tapestry by 53.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer’s stock worth $317,586,000 after acquiring an additional 758,915 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Tapestry by 169.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,770,695 shares of the luxury accessories retailer’s stock worth $226,242,000 after acquiring an additional 1,114,082 shares during the period. Finally, Amundi increased its position in shares of Tapestry by 96.0% during the first quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer’s stock worth $249,751,000 after acquiring an additional 866,969 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $116.23 on Friday. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The firm has a market capitalization of $23.18 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. The business’s fifty day moving average price is $126.57 and its 200 day moving average price is $137.42.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. Tapestry’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were given a dividend of $0.4625 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. Tapestry’s dividend payout ratio is 25.38%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Weiss Ratings cut Tapestry from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 2nd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Barclays boosted their price objective on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Morgan Stanley cut their target price on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Finally, Wells Fargo & Company reduced their target price on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 666,149 shares in the company, valued at $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the sale, the insider directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their position. The SEC filing for this sale provides additional information. 1.28% of the stock is owned by insiders.

Tapestry Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, Kate Spade New York, Stuart Weitzman, Versace, Jimmy Choo and Michael Kors, offering handbags, footwear, apparel, jewelry, watches, accessories, fragrances and related products.

Tapestry sells its products through company-operated stores, brand websites and other digital channels, as well as wholesale partners, department stores, specialty retailers and travel-retail locations.