6,394 Shares in Tapestry, Inc. $TPR Bought by WESPAC Advisors LLC

Key Points

• WESPAC Advisors LLC acquired 6,394 shares of Tapestry, Inc. valued at approximately $561,000, marking a new position in the company according to SEC filings.
• Tapestry reported $1.04 earnings per share for its last quarter, beating estimates and showing an 8.3% increase in revenue compared to the same period last year.
• The company has increased its quarterly dividend from $0.35 to $0.40, representing an annualized dividend of $1.60 and a yield of 1.4%.

WESPAC Advisors LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,394 shares of the luxury accessories retailer's stock, valued at approximately $561,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after acquiring an additional 838,057 shares in the last quarter. Southpoint Capital Advisors LP increased its position in Tapestry by 25.0% during the first 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 increased its position in Tapestry by 50.2% during the first 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. increased its position in Tapestry by 21.1% during the first 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 increased its position in Tapestry by 140.6% during the first 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. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.3%

Shares of NYSE:TPR opened at $115.13 on Wednesday. The company has a market cap of $23.83 billion, a P/E ratio of 182.75, a P/E/G ratio of 2.78 and a beta of 1.57. The stock's 50-day moving average is $107.35 and its 200-day moving average is $89.92. Tapestry, Inc. has a 52-week low of $43.07 and a 52-week high of $117.77. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm's revenue 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 research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

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

Insider Activity

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated 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 sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% 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, Director Alan Ka Ming Lau sold 11,320 shares of the 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 sale, the director owned 8,153 shares of the company's stock, 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. 1.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TPR shares. 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 report on Thursday, September 11th. Argus increased their target price 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. Wall Street Zen downgraded shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 22nd. The Goldman Sachs Group increased their target price on shares of Tapestry from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on shares of Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research 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 has a consensus rating of "Moderate Buy" and an average target price of $108.42.

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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