3Chopt Investment Partners LLC Acquires New Holdings in Tapestry, Inc. $TPR

Key Points

• 3Chopt Investment Partners LLC acquired a new stake in Tapestry, Inc., buying 4,336 shares valued at approximately $381,000 during the second quarter.
• Tapestry, Inc. reported a solid quarterly earnings data, with earnings per share at $1.04, exceeding analysts' expectations of $1.02 and showing an 8.3% increase in revenue year-over-year.
• The company recently increased its quarterly dividend from $0.35 to $0.40 per share, indicating a 1.5% yield on an annualized basis.

3Chopt Investment Partners LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,336 shares of the luxury accessories retailer's stock, valued at approximately $381,000.

A number of other institutional investors also recently added to or reduced their stakes in TPR. Farther Finance Advisors LLC boosted its position in Tapestry by 26.6% during the first quarter. Farther Finance Advisors LLC now owns 9,201 shares of the luxury accessories retailer's stock valued at $671,000 after purchasing an additional 1,933 shares in the last quarter. GAMMA Investing LLC boosted its position in Tapestry by 17.3% during the first quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer's stock valued at $623,000 after purchasing an additional 1,304 shares in the last quarter. SG Americas Securities LLC boosted its position in Tapestry by 87.2% during the first quarter. SG Americas Securities LLC now owns 36,419 shares of the luxury accessories retailer's stock valued at $2,564,000 after purchasing an additional 16,964 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Tapestry by 15.0% in the first quarter. Handelsbanken Fonder AB now owns 69,146 shares of the luxury accessories retailer's stock worth $4,869,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Tapestry by 1.1% in the first quarter. Assenagon Asset Management S.A. now owns 106,368 shares of the luxury accessories retailer's stock worth $7,489,000 after acquiring an additional 1,181 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling

In 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 stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of 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 sale 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 business'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 completion of the transaction, the vice president directly owned 21,098 shares of the company's stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group lowered their price target on Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Raymond James Financial reissued an "outperform" rating and issued a $115.00 price target (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Cowen reissued a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Bank of America downgraded Tapestry from a "buy" rating to a "neutral" rating and raised their price target for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Finally, Wells Fargo & Company raised their price target on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Seventeen 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.com, Tapestry currently has a consensus rating of "Moderate Buy" and an average target price of $108.42.

Tapestry Trading Down 4.5%

Shares of NYSE:TPR opened at $108.35 on Friday. Tapestry, Inc. has a 52-week low of $43.07 and a 52-week high of $117.77. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 171.98, a PEG ratio of 2.74 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 business has a 50-day moving average price of $107.67 and a 200-day moving average price of $90.60.

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

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 5th. 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%. Tapestry's dividend payout ratio is presently 253.97%.

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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