Tapestry, Inc. $TPR Stock Sold by Axecap Investments LLC

Axecap Investments LLC lessened its position in Tapestry, Inc. (NYSE:TPR) by 66.7% during the 3rd quarter, Holdings Channel reports. The firm owned 10,663 shares of the luxury accessories retailer’s stock after selling 21,392 shares during the quarter. Axecap Investments LLC’s holdings in Tapestry were worth $1,227,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cetera Trust Company N.A acquired a new stake in shares of Tapestry during the 2nd quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new position in Tapestry in the second quarter valued at about $31,000. Virtus Advisers LLC acquired a new position in Tapestry in the second quarter valued at about $32,000. GK Wealth Management LLC acquired a new position in Tapestry in the third quarter valued at about $28,000. Finally, Elevation Wealth Partners LLC grew its stake in Tapestry by 336.8% during the second quarter. Elevation Wealth Partners LLC now owns 297 shares of the luxury accessories retailer’s stock worth $43,000 after buying an additional 229 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR stock opened at $117.49 on Wednesday. Tapestry, Inc. has a 1 year low of $93.00 and a 1 year high of $164.80. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The firm’s 50 day moving average is $120.62 and its 200-day moving average is $136.17. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.49 and a beta of 1.42.

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 net margin of 19.09% and a return on equity of 254.95%. The firm 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 company posted $1.04 EPS. Tapestry’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were given a dividend of $0.4625 per share. The ex-dividend date was Friday, September 4th. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.6%. Tapestry’s dividend payout ratio is presently 25.38%.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. BTIG Research reduced their target price on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Telsey Advisory Group lifted their price objective on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $171.56.

Insider Buying and Selling at Tapestry

In related news, insider Denise Kulikowsky sold 5,810 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the transaction, the insider owned 21,136 shares in the company, valued at $2,438,671.68. This trade represents a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry stock in a transaction dated 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 owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.28% of the company’s stock.

Tapestry Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.