Cypress Capital LLC Sells 1,090 Shares of Tapestry, Inc. $TPR

Cypress Capital LLC reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,963 shares of the luxury accessories retailer’s stock after selling 1,090 shares during the period. Cypress Capital LLC’s holdings in Tapestry were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America cut Tapestry from a “buy” rating to a “neutral” rating and boosted their price target for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Wells Fargo & Company lowered their price objective on Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Finally, UBS Group reduced their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.25.

Insider Activity at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction that occurred 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 transaction, the director owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the company’s 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 directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by company insiders.

Tapestry Trading Up 4.9%

NYSE TPR opened at $103.67 on Monday. 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 business has a fifty day simple moving average of $110.95 and a 200 day simple moving average of $97.62. Tapestry, Inc. has a 12 month low of $49.84 and a 12 month high of $118.56. The firm has a market capitalization of $21.46 billion, a P/E ratio of 164.55, a PEG ratio of 2.72 and a beta of 1.71.

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

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders 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 yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 142.86%.

Tapestry announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.