Nisa Investment Advisors LLC Cuts Stock Position in Tapestry, Inc. $TPR

Nisa Investment Advisors LLC reduced its stake in Tapestry, Inc. (NYSE:TPR) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,729 shares of the luxury accessories retailer’s stock after selling 4,613 shares during the period. Nisa Investment Advisors LLC’s holdings in Tapestry were worth $5,157,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. purchased a new stake in Tapestry during the 1st quarter valued at $1,708,000. Jump Financial LLC boosted its position in shares of Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock valued at $5,612,000 after buying an additional 72,623 shares during the last quarter. Allworth Financial LP boosted its position in shares of Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock valued at $913,000 after buying an additional 11,679 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Tapestry during the first quarter valued at $1,476,000. Finally, Nuveen LLC purchased a new stake in shares of Tapestry during the first quarter valued at $59,133,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of Tapestry stock opened at $113.12 on Wednesday. The stock’s 50-day simple moving average is $109.80 and its 200-day simple moving average is $94.95. Tapestry, Inc. has a 52 week low of $46.77 and a 52 week high of $118.56. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 179.56, a PEG ratio of 2.77 and a beta of 1.57. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, 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. Investors of record on Friday, September 5th were given a dividend of $0.40 per share. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is currently 253.97%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TPR shares. Morgan Stanley restated an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. UBS Group dropped their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Sanford C. Bernstein restated an “outperform” rating and issued a $112.00 price target on shares of Tapestry in a research note on Friday, August 15th. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $125.00 target price 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 issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.10.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 7,882 shares of the company’s 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 completion of the transaction, the vice president owned 21,098 shares in the company, valued at approximately $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 this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the 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 transaction, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by corporate insiders.

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.