Tapestry, Inc. $TPR Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 117,566 shares of the luxury accessories retailer’s stock after selling 2,595 shares during the period. Meritage Portfolio Management’s holdings in Tapestry were worth $10,323,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. 1858 Wealth Management LLC boosted its stake in Tapestry by 2.5% during the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after buying an additional 95 shares in the last quarter. Private Trust Co. NA boosted its stake in Tapestry by 27.2% during the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock valued at $50,000 after buying an additional 153 shares in the last quarter. Mather Group LLC. boosted its stake in Tapestry by 2.8% during the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer’s stock valued at $424,000 after buying an additional 165 shares in the last quarter. Harbour Investments Inc. boosted its stake in Tapestry by 120.1% during the first 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 in the last quarter. Finally, MAI Capital Management boosted its stake in Tapestry by 51.7% during the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer’s stock valued at $42,000 after buying an additional 202 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Barclays raised their target price on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 target price on shares of Tapestry in a research note on Thursday, September 11th. Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $108.42.

Tapestry Stock Down 4.5%

Shares of Tapestry stock opened at $108.35 on Friday. The stock has a 50-day moving average price of $107.67 and a 200 day moving average price of $90.72. The company has a market cap of $22.43 billion, a P/E ratio of 171.98, a P/E/G ratio of 2.61 and a beta of 1.57. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $117.77.

Tapestry (NYSE:TPR) last announced 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 the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

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

Insider Activity

In related news, 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 value of $780,712.10. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

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.