Proficio Capital Partners LLC Buys New Position in Tapestry, Inc. $TPR

Proficio Capital Partners LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,126 shares of the luxury accessories retailer’s stock, valued at approximately $750,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPR. Cetera Trust Company N.A bought a new position in shares of Tapestry in the second quarter valued at $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Tapestry during the second quarter valued at approximately $31,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Tapestry during the fourth quarter valued at approximately $28,000. Virtus Advisers LLC purchased a new stake in shares of Tapestry in the 2nd quarter valued at approximately $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry in the fourth quarter worth $32,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Down 0.0%

Tapestry stock opened at $130.06 on Thursday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The firm has a fifty day moving average price of $144.05 and a two-hundred day moving average price of $144.81. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.65 and a beta of 1.43. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio is presently 21.95%.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Robert W. Baird lifted their price target on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Barclays increased their price objective on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Telsey Advisory Group raised their price target on shares of Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $175.12.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.