Ballentine Partners LLC Has $316,000 Position in Tapestry, Inc. $TPR

Ballentine Partners LLC raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 16.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,595 shares of the luxury accessories retailer’s stock after purchasing an additional 507 shares during the period. Ballentine Partners LLC’s holdings in Tapestry were worth $316,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. grew its stake in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in Tapestry during the first quarter valued at about $25,000. First PREMIER Bank acquired a new stake in shares of Tapestry in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tapestry in the first quarter worth about $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Tapestry during the 1st quarter worth about $35,000. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of a number of research analyst reports. Evercore ISI lowered their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Argus raised their price objective on shares of Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research note on Tuesday, June 17th. Barclays upped their target price on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. increased 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, Cowen restated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Seventeen investment 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.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $106.47.

Tapestry Stock Performance

NYSE TPR opened at $108.99 on Monday. The stock has a market cap of $22.68 billion, a P/E ratio of 173.00, a PEG ratio of 2.63 and a beta of 1.52. 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 twelve month low of $43.07 and a twelve month high of $117.00. The company’s 50-day simple moving average is $106.49 and its 200 day simple moving average is $87.98.

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

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 5th. This is a boost from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $780,712.10. Following the sale, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by 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.