Tapestry, Inc. $TPR Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has decreased its holdings in Tapestry, Inc. by 44.9%, owning 2,279,110 shares after selling 1,858,411 shares in the first quarter.
• Tapestry reported a net margin of 2.61% and quarterly revenue of $1.72 billion, exceeding analysts' estimates, while setting its FY 2026 earnings guidance at 5.300-5.450 EPS.
• The company has announced a quarterly dividend increase to $0.40 per share, representing a 1.5% annual yield, up from its previous dividend of $0.35.

Alliancebernstein L.P. cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 44.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,279,110 shares of the luxury accessories retailer's stock after selling 1,858,411 shares during the quarter. Alliancebernstein L.P. owned about 1.10% of Tapestry worth $160,472,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. lifted its position in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after acquiring an additional 197 shares during the period. Greenline Partners LLC acquired a new position in shares of Tapestry in the fourth quarter valued at about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry in the first quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new position in shares of Tapestry in the first quarter worth about $35,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the first quarter worth about $35,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was 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 directly owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TPR shares. Morgan Stanley increased their price target on shares of Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wells Fargo & Company upped their price objective on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a research note on Thursday, June 12th. Raymond James Financial restated an "outperform" rating and set a $115.00 target price (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Finally, Barclays reaffirmed 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. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.47.

Tapestry Stock Performance

TPR stock traded down $1.66 during midday trading on Friday, hitting $104.16. 2,489,416 shares of the stock traded hands, compared to its average volume of 4,717,418. Tapestry, Inc. has a 1-year low of $40.08 and a 1-year high of $114.05. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock's fifty day simple moving average is $102.15 and its 200-day simple moving average is $84.81. The firm has a market cap of $21.68 billion, a P/E ratio of 165.33, a PEG ratio of 2.63 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company's revenue 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 year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a dividend of $0.40 per share. This is an increase 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%. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio (DPR) is currently 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.