Valley National Advisers Inc. Sells 41,010 Shares of Tapestry, Inc. $TPR

Valley National Advisers Inc. lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 96.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,456 shares of the luxury accessories retailer’s stock after selling 41,010 shares during the period. Valley National Advisers Inc.’s holdings in Tapestry were worth $164,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TPR. First PREMIER Bank purchased a new stake in Tapestry during the second quarter worth $25,000. Vestor Capital LLC bought a new position in shares of Tapestry in the 2nd quarter worth $27,000. Flaharty Asset Management LLC purchased a new stake in shares of Tapestry during the 1st quarter worth $25,000. CVA Family Office LLC boosted its position in Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after purchasing an additional 263 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Tapestry during the second quarter valued at about $37,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on TPR shares. Morgan Stanley increased their price target on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their target price on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. upped their price target on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Finally, Raymond James Financial increased their price objective on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

Tapestry Trading Up 0.8%

NYSE TPR opened at $131.23 on Monday. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $131.40. The company has a fifty day simple moving average of $113.43 and a two-hundred day simple moving average of $106.73. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The stock has a market cap of $26.86 billion, a P/E ratio of 117.17, a P/E/G ratio of 2.70 and a beta of 1.65.

Tapestry (NYSE:TPR) last released its earnings results 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 firm 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 firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Tapestry’s payout ratio is 142.86%.

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

Insider Transactions at Tapestry

In related news, insider David E. Howard sold 25,029 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the transaction, the insider owned 55,354 shares in the company, valued at approximately $5,673,785. This represents a 31.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the sale, the chief executive officer owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,485 shares of company stock valued at $12,034,058 over the last quarter. Company insiders own 1.32% of the company’s stock.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.