Founders Financial Securities LLC Acquires New Stake in Tapestry, Inc. $TPR

Founders Financial Securities LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,009 shares of the luxury accessories retailer’s stock, valued at approximately $1,266,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPR. Raiffeisen Bank International AG increased its position in shares of Tapestry by 13,153.1% in the 2nd quarter. Raiffeisen Bank International AG now owns 23,193 shares of the luxury accessories retailer’s stock worth $3,399,000 after purchasing an additional 23,018 shares during the last quarter. SEB Asset Management AB acquired a new position in Tapestry in the first quarter worth about $59,525,000. BlackRock Inc. acquired a new stake in Tapestry during the second quarter valued at approximately $2,610,995,000. Vega Investment Solutions acquired a new stake in Tapestry during the second quarter valued at approximately $10,322,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Tapestry during the second quarter valued at approximately $43,929,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the sale, 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 legal filing 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 business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the sale, the insider owned 21,136 shares in the company, valued at $2,438,671.68. This represents a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.28% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of research analyst reports. Wall Street Zen downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Barclays lifted their price target on shares of Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. BTIG Research dropped their price target on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, Robert W. Baird dropped their target price on Tapestry from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $170.00.

Tapestry Trading Down 1.5%

Shares of NYSE:TPR opened at $116.09 on Friday. The company has a 50 day moving average of $117.65 and a 200-day moving average of $137.09. 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 firm has a market cap of $23.15 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.47 and a beta of 1.42. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company earned $1.04 earnings per share. The firm’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. As a group, analysts anticipate that Tapestry, Inc. will post 7.97 earnings per share for the current fiscal year.

Tapestry Increases Dividend

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

Tapestry Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.