2,660 Shares in Tapestry, Inc. $TPR Bought by Abacus Planning Group Inc.

Key Points

• Abacus Planning Group Inc. acquired 2,660 shares of Tapestry, Inc. (NYSE:TPR), valued at approximately $234,000, during the second quarter.
• Tapestry recently reported a quarterly earnings per share (EPS) of $1.04, exceeding analyst expectations, and noted 8.3% revenue growth year-over-year, amounting to $1.72 billion.
• The company announced a dividend increase to $0.40 per share, reflecting an annualized rate of $1.60 with a dividend yield of 1.4%.

Abacus Planning Group Inc. purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,660 shares of the luxury accessories retailer's stock, valued at approximately $234,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TPR. Private Trust Co. NA boosted its stake in shares of Tapestry by 27.2% in the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 153 shares during the last quarter. Mather Group LLC. lifted its holdings in Tapestry by 2.8% in the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after buying an additional 165 shares during the period. Harbour Investments Inc. boosted its position in Tapestry by 120.1% during the first 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. MAI Capital Management boosted its position in Tapestry by 51.7% during the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock valued at $42,000 after acquiring an additional 202 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Tapestry by 3.2% during the 1st quarter. Evergreen Capital Management LLC now owns 6,808 shares of the luxury accessories retailer's stock worth $479,000 after acquiring an additional 209 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

Shares of TPR opened at $114.91 on Friday. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $117.77. The business's fifty day moving average is $107.09 and its 200 day moving average is $89.22. 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 stock has a market cap of $23.79 billion, a P/E ratio of 182.40, a P/E/G ratio of 2.79 and a beta of 1.57.

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

Tapestry Increases Dividend

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

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was 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 in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPR. Sanford C. Bernstein reissued an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Cowen reissued a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Evercore ISI cut their price target on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tapestry in a research note on Saturday, September 27th. Finally, Barclays increased their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Seventeen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $106.47.

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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