Allspring Global Investments Holdings LLC Grows Position in Tapestry, Inc. $TPR

Key Points

• Allspring Global Investments Holdings LLC significantly increased its stake in Tapestry, Inc. by 865.4%, owning 92,850 shares worth approximately $8.07 million after purchasing an additional 83,232 shares in Q2.
• Tapestry's stock received multiple upgrades from analysts, with Barclays raising its target price from $111.00 to $127.00 and JPMorgan increasing its target from $139.00 to $142.00, suggesting a strong outlook for the company's performance.
• The company recently announced a quarterly dividend of $0.40, up from the previous $0.35, which reflects a positive enhancement in shareholder returns and a dividend yield of 1.4%.

Allspring Global Investments Holdings LLC lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 865.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 92,850 shares of the luxury accessories retailer's stock after purchasing an additional 83,232 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Tapestry were worth $8,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First PREMIER Bank purchased a new position in shares of Tapestry in the 2nd quarter worth approximately $25,000. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the 1st quarter worth approximately $25,000. Harbour Investments Inc. boosted its holdings in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after purchasing an additional 197 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry in the 1st quarter worth approximately $29,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Tapestry in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPR. Barclays lifted their target price on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. JPMorgan Chase & Co. raised their price target on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Wells Fargo & Company raised their price target on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Wall Street Zen lowered Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Monday, September 22nd. Finally, Cowen reissued a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

Tapestry Price Performance

Shares of TPR stock opened at $116.70 on Monday. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $118.56. The stock has a market capitalization of $24.16 billion, a price-to-earnings ratio of 185.23, a P/E/G ratio of 2.82 and a beta of 1.57. The stock has a fifty day simple moving average of $108.22 and a two-hundred day simple moving average of $92.43. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share 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 prior year, the business earned $0.92 EPS. The business'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 predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced 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 was Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.32% of the company's stock.

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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