Axxcess Wealth Management LLC Sells 745 Shares of Tapestry, Inc. $TPR

Axxcess Wealth Management LLC decreased its position in Tapestry, Inc. (NYSE:TPR) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,101 shares of the luxury accessories retailer’s stock after selling 745 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Tapestry were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TPR. WT Asset Management Ltd increased its stake in Tapestry by 140.6% in the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock worth $110,870,000 after acquiring an additional 920,087 shares during the last quarter. Nuveen LLC purchased a new stake in Tapestry during the 1st quarter valued at $59,133,000. AQR Capital Management LLC raised its holdings in Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after buying an additional 838,057 shares during the period. Samlyn Capital LLC raised its holdings in Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after buying an additional 658,889 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in Tapestry during the 1st quarter valued at $37,495,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction on 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 owned 8,153 shares of the company’s stock, valued at $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.

Analyst Ratings Changes

Several research firms recently weighed in on TPR. BTIG Research began coverage on Tapestry in a report on Tuesday. They set a “buy” rating and a $140.00 price target on the stock. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a report on Monday, September 22nd. Telsey Advisory Group restated an “outperform” rating and set a $125.00 price target on shares of Tapestry in a report on Thursday, September 11th. Bank of America lowered Tapestry from a “buy” rating to a “neutral” rating and increased their price target for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Tapestry Stock Performance

Shares of Tapestry stock opened at $116.70 on Friday. The stock’s fifty day moving average is $108.22 and its two-hundred day moving average is $92.24. The company has a market capitalization of $24.16 billion, a PE ratio of 185.23, a price-to-earnings-growth ratio of 2.82 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, Inc. has a 52 week low of $43.07 and a 52 week high of $118.56.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.92 EPS. Tapestry’s quarterly revenue was up 8.3% on a year-over-year basis. 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 earnings per share for the current year.

Tapestry Increases Dividend

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

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.