Cerity Partners LLC Increases Position in Tapestry, Inc. $TPR

Cerity Partners LLC raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 34.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 232,479 shares of the luxury accessories retailer’s stock after buying an additional 59,357 shares during the period. Cerity Partners LLC owned about 0.11% of Tapestry worth $20,414,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Formula Growth Ltd. acquired a new position in shares of Tapestry during the 2nd quarter worth about $1,819,000. Jump Financial LLC raised its holdings in shares of Tapestry by 18.9% in the second quarter. Jump Financial LLC now owns 94,744 shares of the luxury accessories retailer’s stock valued at $8,319,000 after buying an additional 15,042 shares during the last quarter. Nkcfo LLC acquired a new stake in Tapestry during the 2nd quarter worth approximately $161,000. Victory Financial Group LLC acquired a new stake in shares of Tapestry during the second quarter worth $696,000. Finally, Avestar Capital LLC purchased a new stake in shares of Tapestry in the second quarter valued at about $259,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Jefferies Financial Group increased their target price on shares of Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price target on shares of Tapestry in a research note on Friday, November 7th. Raymond James Financial upped their price target on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Finally, UBS Group decreased their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $119.26.

Insider Buying and Selling at Tapestry

In other news, CFO Scott A. Roe sold 18,794 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $104.85, for a total value of $1,970,550.90. Following the completion of the transaction, the chief financial officer owned 148,149 shares of the company’s stock, valued at $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Denise Kulikowsky sold 583 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $115.17, for a total transaction of $67,144.11. Following the sale, the insider owned 19,285 shares in the company, valued at approximately $2,221,053.45. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 126,805 shares of company stock valued at $13,236,129. Corporate insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $118.16 on Wednesday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The business’s fifty day moving average price is $110.66 and its two-hundred day moving average price is $102.49. The stock has a market cap of $24.18 billion, a PE ratio of 105.50, a price-to-earnings-growth ratio of 2.41 and a beta of 1.65. Tapestry, Inc. has a one year low of $58.39 and a one year high of $118.92.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio (DPR) is currently 142.86%.

Tapestry declared that its board has approved a stock buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

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.