Aberdeen Group plc Cuts Stock Position in Tapestry, Inc. $TPR

Key Points

• Aberdeen Group plc has reduced its stake in Tapestry, Inc. by 43.4% during the first quarter, now holding 20,261 shares worth approximately $1.4 million.
• Tapestry recently announced an increase in its quarterly dividend to $0.40, reflecting a 1.6% dividend yield, and plans to pay the dividend on September 22nd.
• The company reported a quarterly earnings per share (EPS) of $1.04, surpassing estimates, and anticipates a FY 2026 EPS guidance of 5.300-5.450.

Aberdeen Group plc reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 43.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,261 shares of the luxury accessories retailer's stock after selling 15,548 shares during the quarter. Aberdeen Group plc's holdings in Tapestry were worth $1,402,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TPR. Southpoint Capital Advisors LP bought a new stake in Tapestry during the fourth quarter worth $130,660,000. Price T Rowe Associates Inc. MD lifted its holdings in Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after acquiring an additional 1,875,753 shares during the period. Point72 Asset Management L.P. bought a new stake in Tapestry during the fourth quarter worth $101,433,000. Candlestick Capital Management LP bought a new stake in Tapestry during the fourth quarter worth $66,902,000. Finally, Point72 Hong Kong Ltd bought a new stake in Tapestry during the fourth quarter worth $65,751,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Price Performance

Tapestry stock traded up $2.16 during midday trading on Tuesday, hitting $100.63. 2,069,083 shares of the company's stock were exchanged, compared to its average volume of 4,902,337. Tapestry, Inc. has a 52-week low of $39.40 and a 52-week high of $114.05. The stock has a 50-day moving average price of $99.01 and a two-hundred day moving average price of $83.74. 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 company has a market cap of $20.94 billion, a P/E ratio of 159.53, a PEG ratio of 2.51 and a beta of 1.51.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business 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 business earned $0.92 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, September 5th. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is currently 222.22%.

Analyst Ratings Changes

Several analysts have issued reports on TPR shares. The Goldman Sachs Group boosted their target price on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Telsey Advisory Group boosted their target price on Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. boosted their target price on Tapestry from $104.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Thursday, June 12th. Finally, Barclays reiterated an "overweight" rating and set a $105.00 price objective (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $105.47.

Tapestry 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.