US Bancorp DE Sells 595 Shares of Tapestry, Inc. $TPR

US Bancorp DE lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,014 shares of the luxury accessories retailer’s stock after selling 595 shares during the quarter. US Bancorp DE’s holdings in Tapestry were worth $1,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. First PREMIER Bank bought a new stake in shares of Tapestry in the second quarter worth $25,000. Flaharty Asset Management LLC bought a new stake in shares of Tapestry in the first quarter worth $25,000. Harbour Investments Inc. grew its stake in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tapestry in the first quarter worth $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Tapestry in the second quarter worth $37,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR stock opened at $116.47 on Friday. The company’s fifty day simple moving average is $108.07 and its 200 day simple moving average is $91.82. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $118.56. The firm has a market cap of $24.11 billion, a price-to-earnings ratio of 184.87, a PEG ratio of 2.81 and a beta of 1.57. 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 (NYSE:TPR) last announced 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 net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business’s quarterly 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. On average, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $0.40 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is currently 253.97%.

Insider Activity

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 transaction of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TPR has been the topic of several analyst reports. Telsey Advisory Group reissued an “outperform” rating and issued a $125.00 price objective on shares of Tapestry in a research note on Thursday, September 11th. Sanford C. Bernstein reissued an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Evercore ISI dropped their target price on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Wells Fargo & Company boosted their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and boosted their target price for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.00.

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.