Intech Investment Management LLC Purchases Shares of 110,645 Tapestry, Inc. $TPR

Key Points

• Intech Investment Management LLC acquired 110,645 shares of Tapestry, Inc., valued at approximately $7.79 million, becoming a new stakeholder in the luxury accessories retailer.
• Tapestry recently declared an increase in its dividend to $0.40 per share, up from $0.35, representing an annualized dividend yield of 1.5%.
• Analysts have shown strong confidence in Tapestry's shares, with several firms adjusting their price targets and maintaining a consensus rating of "Moderate Buy" for the stock.

Intech Investment Management LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 110,645 shares of the luxury accessories retailer's stock, valued at approximately $7,791,000. Intech Investment Management LLC owned about 0.05% of Tapestry as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of TPR. Harbour Investments Inc. lifted its position in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Flaharty Asset Management LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry during the 1st quarter valued at $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $35,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their price objective on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Argus boosted their target price on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a research note on Thursday. Telsey Advisory Group reissued an "outperform" rating and set a $125.00 target price on shares of Tapestry in a research note on Thursday. Finally, Evercore ISI cut their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $106.47.

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 value of $780,712.10. Following the completion of the sale, the vice president directly 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 document filed with the SEC, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares of the company's stock, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.18% of the company's stock.

Tapestry Stock Up 3.3%

Shares of NYSE TPR traded up $3.50 during mid-day trading on Monday, reaching $109.97. The company had a trading volume of 3,415,413 shares, compared to its average volume of 4,871,085. Tapestry, Inc. has a twelve month low of $42.06 and a twelve month high of $114.05. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The stock has a market capitalization of $22.89 billion, a PE ratio of 174.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. The stock's 50 day moving average is $103.86 and its 200-day moving average is $85.54.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. Tapestry's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a $0.40 dividend. This is a boost from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio is currently 253.97%.

Tapestry Company Profile

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.