Tapestry, Inc. $TPR Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 26.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,273 shares of the luxury accessories retailer’s stock after selling 2,610 shares during the period. Baird Financial Group Inc.’s holdings in Tapestry were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Ensign Peak Advisors Inc boosted its stake in Tapestry by 3.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 88,840 shares of the luxury accessories retailer’s stock valued at $5,804,000 after purchasing an additional 3,064 shares during the period. Focus Partners Wealth increased its holdings in shares of Tapestry by 33.3% during the fourth quarter. Focus Partners Wealth now owns 19,816 shares of the luxury accessories retailer’s stock valued at $1,295,000 after purchasing an additional 4,952 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Tapestry during the fourth quarter valued at $562,000. Janus Henderson Group PLC increased its holdings in shares of Tapestry by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 113,637 shares of the luxury accessories retailer’s stock valued at $7,427,000 after purchasing an additional 534 shares during the period. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of Tapestry during the fourth quarter valued at $278,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research analyst reports. Evercore ISI lowered their price target on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Morgan Stanley raised their price target on Tapestry from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 1st. TD Cowen raised Tapestry from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Thursday, June 12th. JPMorgan Chase & Co. raised their price target on Tapestry from $104.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Finally, UBS Group lowered their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average target price of $105.47.

Tapestry Trading Up 0.1%

NYSE:TPR opened at $105.31 on Thursday. 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, Inc. has a 1-year low of $40.41 and a 1-year high of $114.05. The firm has a market capitalization of $21.92 billion, a price-to-earnings ratio of 167.15, a price-to-earnings-growth ratio of 2.65 and a beta of 1.52. The stock has a fifty day simple moving average of $103.22 and a 200 day simple moving average of $85.23.

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

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio (DPR) is currently 253.97%.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated 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 directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.18% of the company’s stock.

Tapestry 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.