2,758 Shares in Tapestry, Inc. $TPR Acquired by Monument Capital Management

Key Points

• Monument Capital Management acquired 2,758 shares of Tapestry, Inc. valued at approximately $242,000, marking a new position in the luxury accessories retailer.
• During the 1st quarter, multiple institutional investors, including AQR Capital Management and Samlyn Capital, increased their positions in Tapestry, signaling strong institutional interest with over 90% ownership of the company held by institutional investors.
• In its latest earnings report, Tapestry exceeded analysts' expectations with $1.04 EPS, and recently declared a quarterly dividend increase from $0.35 to $0.40, boosting its annualized dividend yield to 1.5%.

Monument Capital Management acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,758 shares of the luxury accessories retailer's stock, valued at approximately $242,000.

Several other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after buying an additional 838,057 shares during the last quarter. Southpoint Capital Advisors LP lifted its position in shares of Tapestry by 25.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer's stock worth $176,025,000 after buying an additional 500,000 shares during the last quarter. Samlyn Capital LLC lifted its position in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock worth $138,865,000 after buying an additional 658,889 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tapestry by 21.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer's stock worth $116,310,000 after buying an additional 288,219 shares during the last quarter. Finally, WT Asset Management Ltd lifted its position in shares of Tapestry by 140.6% during the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after buying an additional 920,087 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of TPR opened at $108.35 on Friday. The company's fifty day moving average is $107.67 and its two-hundred day moving average is $90.60. 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 $22.43 billion, a P/E ratio of 171.98, a P/E/G ratio of 2.74 and a beta of 1.57. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $117.77.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $1.72 billion during 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%. The business's revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders 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 1.5%. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is 253.97%.

Insider Transactions at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction dated 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 approximately $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares of the company's stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TPR shares. Argus boosted their price objective on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. UBS Group reduced their price target 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. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Cowen reiterated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, Bank of America downgraded shares of Tapestry from a "buy" rating to a "neutral" rating and upped their price target for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Seventeen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $108.42.

About Tapestry

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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