2,468 Shares in Tapestry, Inc. $TPR Acquired by Highland Capital Management LLC

Key Points

• Highland Capital Management LLC acquired 2,468 shares of Tapestry, Inc. valued at approximately $217,000 in Q2.
• Tapestry reported earnings of $1.04 per share, exceeding analysts’ expectations, with a revenue of $1.72 billion for the last quarter.
• The company recently increased its quarterly dividend from $0.35 to $0.40, representing a yield of 1.4% and an annualized dividend of $1.60.

Highland Capital Management LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,468 shares of the luxury accessories retailer's stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tapestry during the 1st quarter worth $1,708,000. Nisa Investment Advisors LLC raised its position in Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock valued at $4,460,000 after purchasing an additional 9,049 shares in the last quarter. Jump Financial LLC raised its position in Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock valued at $5,612,000 after purchasing an additional 72,623 shares in the last quarter. Allworth Financial LP lifted its stake in Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock worth $913,000 after purchasing an additional 11,679 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Tapestry in the 1st quarter worth about $1,476,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

TPR has been the topic of a number of research reports. Sanford C. Bernstein reissued an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Evercore ISI decreased their price target 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. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. UBS Group decreased their target price on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Tapestry in a research note on Saturday, September 27th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $106.47.

Tapestry Trading Down 0.6%

NYSE:TPR opened at $114.91 on Monday. The firm has a market capitalization of $23.79 billion, a P/E ratio of 182.40, a P/E/G ratio of 2.77 and a beta of 1.57. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The company has a fifty day moving average of $107.09 and a 200 day moving average of $89.45. Tapestry, Inc. has a 52 week low of $43.07 and a 52 week high of $117.77.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $0.40 dividend. This is an increase from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.4%. Tapestry's dividend payout ratio (DPR) is 253.97%.

Insider Buying and Selling

In other 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 stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares of the company's stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction that occurred 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 transaction, the vice president owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by company insiders.

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.

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