4,356 Shares in Tapestry, Inc. $TPR Bought by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC purchased 4,356 shares of Tapestry, Inc. valued at approximately $307,000 in the first quarter, contributing to a significant presence of institutional ownership at 90.77%.
• Tapestry reported better-than-expected quarterly earnings on August 14th, achieving $1.04 EPS, surpassing analysts' consensus estimate of $1.02, with revenue of $1.72 billion during the quarter.
• The company announced an increase in its quarterly dividend to $0.40 per share, representing a 1.5% dividend yield and up from the previous $0.35.

MBB Public Markets I LLC bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,356 shares of the luxury accessories retailer's stock, valued at approximately $307,000.

Other hedge funds also recently bought and sold shares of the company. Ascent Group LLC bought a new stake in Tapestry in the 1st quarter valued at $240,000. United Services Automobile Association bought a new stake in Tapestry in the 1st quarter valued at $371,000. Caxton Associates LLP bought a new stake in Tapestry in the 1st quarter valued at $3,683,000. Sciencast Management LP bought a new stake in Tapestry in the 1st quarter valued at $1,487,000. Finally, CTC Alternative Strategies Ltd. bought a new stake in Tapestry in the 1st quarter valued at $1,283,000. Institutional investors own 90.77% of the company's stock.

Insider Activity at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of Tapestry 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 completion of the transaction, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.18% of the company's stock.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $105.31 on Thursday. Tapestry, Inc. has a 52 week low of $40.41 and a 52 week high of $114.05. The stock has a market capitalization of $21.92 billion, a P/E ratio of 167.15, a PEG ratio of 2.65 and a beta of 1.52. The firm has a fifty day simple moving average of $103.22 and a two-hundred day simple moving average of $85.23. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping 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 firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the company earned $0.92 EPS. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is 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 dividend payout ratio is presently 253.97%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays reiterated an "overweight" rating and issued a $105.00 price target (up from $98.00) on shares of Tapestry in a report on Friday, July 11th. Telsey Advisory Group lifted their price target on shares of Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, August 11th. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Thursday, June 12th. UBS Group dropped their price objective on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Finally, Bank of America cut shares of Tapestry from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $105.47.

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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