EverSource Wealth Advisors LLC Sells 16,662 Shares of Tapestry, Inc. $TPR

EverSource Wealth Advisors LLC reduced its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 74.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,654 shares of the luxury accessories retailer's stock after selling 16,662 shares during the period. EverSource Wealth Advisors LLC's holdings in Tapestry were worth $496,000 at the end of the most recent quarter.These 3 Stocks Are Using Buybacks to Signal Market ConfidenceOther hedge funds also recently modified their holdings of the company. Systematic Financial Management LP grew its stake in Tapestry by 0.3% in the 2nd quarter. Systematic Financial Management LP now owns 379,791 shares of the luxury accessories retailer's stock valued at $33,350,000 after buying an additional 1,174 shares during the last quarter. Pinkerton Wealth LLC bought a new stake in shares of Tapestry during the second quarter worth approximately $2,154,000. Beacon Pointe Advisors LLC boosted its holdings in shares of Tapestry by 4.3% during the second quarter. Beacon Pointe Advisors LLC now owns 4,636 shares of the luxury accessories retailer's stock worth $407,000 after acquiring an additional 189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Tapestry in the second quarter valued at approximately $6,307,000. Finally, M&T Bank Corp increased its stake in shares of Tapestry by 4.1% during the second quarter. M&T Bank Corp now owns 35,768 shares of the luxury accessories retailer's stock worth $3,140,000 after purchasing an additional 1,417 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock. Analyst Upgrades and DowngradesTPR has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Tapestry from $147.00 to $148.00 and gave the company an "overweight" rating in a research note on Monday, November 17th. UBS Group reduced their target price on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Sanford C. Bernstein upped their price target on shares of Tapestry from $112.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Jefferies Financial Group boosted their price objective on shares of Tapestry from $125.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, October 23rd. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $119.26.Ride the Luxury Retail Wave with These 3 High-End Brand StocksGet Our Latest Stock Analysis on TPRTapestry Stock Up 0.9%Shares of NYSE TPR opened at $116.15 on Monday. The stock has a market capitalization of $23.77 billion, a P/E ratio of 103.71, a PEG ratio of 2.39 and a beta of 1.65. The stock's fifty day moving average is $110.43 and its 200 day moving average is $101.93. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $118.56. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. 3 Consumer Discretionary Stocks to Buy in a Divided EconomyTapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.63 billion. During the same quarter in the prior year, the business posted $0.84 earnings per share. Tapestry's revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year. Tapestry Announces DividendThe company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. Tapestry's dividend payout ratio (DPR) is currently 142.86%. Tapestry announced that its board has authorized a stock repurchase plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued. Insiders Place Their BetsIn other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Roe sold 18,794 shares of the company's stock in a transaction on Friday, November 21st. The stock was sold at an average price of $104.85, for a total value of $1,970,550.90. Following the sale, the chief financial officer owned 148,149 shares of the company's stock, valued at $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 126,805 shares of company stock valued at $13,236,129 over the last three months. 1.32% of the stock is owned by corporate insiders. Tapestry 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.Featured ArticlesFive stocks we like better than TapestryWhat is the Nikkei 225 index? Rubrik’s Massive Rebound: Why the Next Leg Higher Could Be FastBasic Materials Stocks InvestingFive Below and Dollar Tree Earnings Signal a Shopper Shift3 Ways To Invest In Coffee, Other Than Drinking ItUlta’s Stock May Be Set for a Glow-Up—20% Upside Ahead?Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Tapestry Right Now?Before you consider Tapestry, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tapestry wasn't on the list.While Tapestry currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here