Jackson Wealth Management LLC Acquires Shares of 4,623 Tapestry, Inc. $TPR

by · The Markets Daily

Jackson Wealth Management LLC bought a new position in Tapestry, Inc. (NYSE:TPR – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,623 shares of the luxury accessories retailer’s stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Flaharty Asset Management LLC purchased a new stake in Tapestry during the first quarter valued at $25,000. First PREMIER Bank bought a new position in shares of Tapestry in the 2nd quarter valued at about $25,000. Vestor Capital LLC purchased a new position in Tapestry in the second quarter worth about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Tapestry during the first quarter worth approximately $29,000. Finally, CVA Family Office LLC raised its position in Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after purchasing an additional 263 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TPR shares. Jefferies Financial Group lifted their target price on Tapestry from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group lifted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Robert W. Baird set a $130.00 target price on shares of Tapestry in a research note on Wednesday, October 29th. Guggenheim began coverage on shares of Tapestry in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. Finally, Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $119.63.

Check Out Our Latest Research Report on TPR

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 10,344 shares of Tapestry stock in a transaction on Monday, November 24th. The stock was sold at an average price of $107.00, for a total value of $1,106,808.00. Following the transaction, the chief executive officer directly owned 131,815 shares in the company, valued at approximately $14,104,205. This trade represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. This represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is currently owned by company insiders.

Tapestry Price Performance

TPR opened at $123.61 on Tuesday. The company has a market capitalization of $25.30 billion, a price-to-earnings ratio of 110.37, a PEG ratio of 2.53 and a beta of 1.65. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $125.73. The business’s fifty day simple moving average is $111.21 and its 200-day simple moving average is $103.69.

Tapestry (NYSE:TPR – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio (DPR) is 142.86%.

Tapestry declared that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Tapestry Company Profile

(Free Report)

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.

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