Vontobel Holding Ltd. Sells 813 Shares of Tapestry, Inc. $TPR

Vontobel Holding Ltd. decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,358 shares of the luxury accessories retailer’s stock after selling 813 shares during the quarter. Vontobel Holding Ltd.’s holdings in Tapestry were worth $997,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new position in shares of Tapestry during the first quarter worth $1,708,000. Nisa Investment Advisors LLC boosted its position in shares of Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock worth $4,460,000 after acquiring an additional 9,049 shares during the last quarter. Jump Financial LLC boosted its position in shares of Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after acquiring an additional 72,623 shares during the last quarter. Allworth Financial LP boosted its position in shares of Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after acquiring an additional 11,679 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Tapestry during the first quarter worth $1,476,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of research reports. Raymond James Financial restated an “outperform” rating and set a $115.00 target price (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of Tapestry from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. The Goldman Sachs Group increased their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Finally, Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.42.

Tapestry Price Performance

TPR stock opened at $108.35 on Monday. Tapestry, Inc. has a 52 week low of $43.07 and a 52 week high of $117.77. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The company has a fifty day simple moving average of $107.67 and a two-hundred day simple moving average of $90.84. The firm has a market capitalization of $22.43 billion, a P/E ratio of 171.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its earnings results 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 analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

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

Insider Activity

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were 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 owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade 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 company 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.