Ingalls & Snyder LLC Has $364,000 Position in Tapestry, Inc. $TPR

Ingalls & Snyder LLC lessened its position in Tapestry, Inc. (NYSE:TPR) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,144 shares of the luxury accessories retailer’s stock after selling 114 shares during the period. Ingalls & Snyder LLC’s holdings in Tapestry were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TPR. WT Asset Management Ltd increased its holdings 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 purchasing an additional 920,087 shares in the last quarter. Nuveen LLC acquired a new position in Tapestry in the 1st quarter worth about $59,133,000. AQR Capital Management LLC increased its holdings in Tapestry by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after purchasing an additional 838,057 shares in the last quarter. Samlyn Capital LLC increased its holdings in Tapestry by 50.2% in the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after purchasing an additional 658,889 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new position in Tapestry in the 1st quarter worth about $37,495,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Friday. Raymond James Financial increased their price target on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. increased their price target on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wells Fargo & Company increased their price target on Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Finally, Evercore ISI decreased their price target on Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.35.

Tapestry Stock Down 0.2%

Shares of Tapestry stock opened at $114.71 on Monday. Tapestry, Inc. has a one year low of $46.77 and a one year 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. The stock’s 50-day moving average is $109.19 and its 200 day moving average is $94.28. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of 182.08, a PEG ratio of 2.76 and a beta of 1.57.

Tapestry (NYSE:TPR) last announced its earnings results 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 analyst estimates of $1.67 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm’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 research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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

Insider Activity

In related news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president owned 21,098 shares in the company, 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 the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the 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 completion of the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is owned by corporate insiders.

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.