Resonant Capital Advisors LLC Makes New Investment in Tapestry, Inc. $TPR

Resonant Capital Advisors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,829 shares of the luxury accessories retailer’s stock, valued at approximately $248,000.

Several other hedge funds have also recently bought and sold shares of TPR. Harbour Investments Inc. grew its position in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new stake in Tapestry in the 1st quarter valued at $25,000. First PREMIER Bank acquired a new position in Tapestry in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Tapestry during the 1st quarter worth $29,000. Finally, CVA Family Office LLC lifted its holdings in shares of Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after buying an additional 263 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Up 0.2%

NYSE TPR opened at $114.97 on Tuesday. The business has a fifty day moving average price of $109.50 and a two-hundred day moving average price of $94.61. The stock has a market capitalization of $23.80 billion, a PE ratio of 182.50, a PEG ratio of 2.76 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $46.77 and a fifty-two week high of $118.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31.

Tapestry (NYSE:TPR) last issued its quarterly 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. 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 analyst estimates of $1.67 billion. During the same quarter last year, the company posted $0.92 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business 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 represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is currently 253.97%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Tapestry from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group boosted their price target on Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a research report on Thursday, September 11th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $114.10.

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.