Park Avenue Securities LLC Grows Position in Tapestry, Inc. $TPR

Park Avenue Securities LLC increased its position in shares of Tapestry, Inc. (NYSE:TPR) by 9.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,399 shares of the luxury accessories retailer’s stock after buying an additional 536 shares during the quarter. Park Avenue Securities LLC’s holdings in Tapestry were worth $562,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new position in Tapestry during the 2nd quarter worth approximately $25,000. Flaharty Asset Management LLC acquired a new stake in Tapestry during the 1st quarter worth approximately $25,000. Harbour Investments Inc. lifted its position in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 197 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Tapestry during the 1st quarter worth approximately $29,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in Tapestry during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 1.1%

TPR opened at $108.99 on Monday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The business has a 50 day simple moving average of $106.49 and a 200-day simple moving average of $87.98. The stock has a market capitalization of $22.68 billion, a P/E ratio of 173.00, a P/E/G ratio of 2.63 and a beta of 1.52. Tapestry, Inc. has a 12 month low of $43.07 and a 12 month high of $117.00.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

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

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. JPMorgan Chase & Co. increased their price objective on Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. UBS Group decreased their price objective on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Cowen reaffirmed a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, Argus increased their price objective on Tapestry from $78.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.47.

Insider Buying and Selling at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction on Thursday, September 11th. The stock was 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 of the company’s stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company’s stock.

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.