Parkside Financial Bank & Trust Has $189,000 Stake in Tapestry, Inc. $TPR

Parkside Financial Bank & Trust grew its stake in Tapestry, Inc. (NYSE:TPR) by 30.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,155 shares of the luxury accessories retailer’s stock after purchasing an additional 507 shares during the period. Parkside Financial Bank & Trust’s holdings in Tapestry were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Advisory Inc. bought a new stake in shares of Tapestry during the first quarter worth $225,000. Allworth Financial LP boosted its holdings 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 valued at $913,000 after acquiring an additional 11,679 shares in the last quarter. Cerity Partners LLC grew its position in Tapestry by 40.4% during the 1st quarter. Cerity Partners LLC now owns 173,122 shares of the luxury accessories retailer’s stock worth $12,190,000 after acquiring an additional 49,781 shares during the last quarter. Ballentine Partners LLC acquired a new position in Tapestry in the 1st quarter worth about $217,000. Finally, CWM LLC grew its holdings in shares of Tapestry by 21.5% during the first quarter. CWM LLC now owns 100,918 shares of the luxury accessories retailer’s stock worth $7,106,000 after purchasing an additional 17,846 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TPR shares. Wells Fargo & Company cut their target price on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday. Robert W. Baird set a $130.00 price target on shares of Tapestry in a report on Wednesday, October 29th. Sanford C. Bernstein increased their price objective on Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. BTIG Research initiated coverage on Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 target price on the stock. Finally, UBS Group decreased their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.25.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction on 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 directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was 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 of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Tapestry Stock Performance

Shares of Tapestry stock opened at $106.05 on Tuesday. The business has a 50-day moving average price of $111.03 and a two-hundred day moving average price of $97.88. Tapestry, Inc. has a 1-year low of $49.84 and a 1-year high of $118.56. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company has a market cap of $21.95 billion, a P/E ratio of 168.33, a PEG ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s payout ratio is currently 142.86%.

Tapestry announced that its Board of Directors has approved a share buyback plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.