Freedom Investment Management Inc. Sells 12,791 Shares of Tapestry, Inc. $TPR

Freedom Investment Management Inc. lessened its stake in Tapestry, Inc. (NYSE:TPR) by 76.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,854 shares of the luxury accessories retailer’s stock after selling 12,791 shares during the period. Freedom Investment Management Inc.’s holdings in Tapestry were worth $338,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TPR. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tapestry during the 1st quarter worth $1,708,000. Nisa Investment Advisors LLC boosted its stake in shares of Tapestry by 16.7% during the 1st 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 stake in shares of Tapestry by 1,025.9% during the 1st 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 stake in shares of Tapestry by 689.0% during the 1st 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 purchased a new position in shares of Tapestry during the 1st quarter worth $1,476,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TPR shares. BTIG Research started coverage on shares of Tapestry in a research note on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Barclays lifted their target price on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $113.35.

Insider Activity

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% 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.

Tapestry Stock Performance

Tapestry stock opened at $114.71 on Monday. The company’s 50-day moving average price is $109.19 and its 200-day moving average price is $94.28. 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 market cap of $23.75 billion, a PE ratio of 182.08, a price-to-earnings-growth ratio of 2.76 and a beta of 1.57. Tapestry, Inc. has a twelve month low of $46.77 and a twelve month high of $118.56.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a dividend of $0.40 per share. 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 is currently 253.97%.

Tapestry Company 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.