AlphaQuest LLC Raises Holdings in Tapestry, Inc. $TPR

Key Points

• AlphaQuest LLC significantly increased its holdings in Tapestry, Inc. by purchasing an additional 7,842 shares, resulting in a total ownership of 10,784 shares valued at approximately $759,000.
• Tapestry recently reported earnings of $1.04 per share for the last quarter, exceeding expectations with a revenue of $1.72 billion, marking an 8.3% increase compared to the same quarter last year.
• The company declared a quarterly dividend increase from $0.35 to $0.40, with a yield of 1.6% and an ex-dividend date set for September 5th.

AlphaQuest LLC raised its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 266.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,784 shares of the luxury accessories retailer's stock after purchasing an additional 7,842 shares during the quarter. AlphaQuest LLC's holdings in Tapestry were worth $759,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TPR. Price T Rowe Associates Inc. MD increased its holdings in shares of Tapestry by 593.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after purchasing an additional 1,875,753 shares during the period. Coppell Advisory Solutions LLC increased its holdings in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares during the period. Coldstream Capital Management Inc. increased its holdings in shares of Tapestry by 6.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 9,113 shares of the luxury accessories retailer's stock valued at $595,000 after purchasing an additional 540 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $264,000. Finally, Oxford Asset Management LLP acquired a new stake in Tapestry in the fourth quarter valued at about $435,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Price Performance

Shares of TPR stock traded up $0.25 during midday trading on Wednesday, reaching $100.95. 3,668,685 shares of the company traded hands, compared to its average volume of 5,275,290. The firm's 50 day simple moving average is $99.70 and its two-hundred day simple moving average is $83.98. Tapestry, Inc. has a 1-year low of $39.40 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 firm has a market cap of $21.01 billion, a PE ratio of 160.23, a price-to-earnings-growth ratio of 2.54 and a beta of 1.51.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $0.92 EPS. The company's revenue for the quarter 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 expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.40 per share. This is a positive change from Tapestry's previous quarterly dividend of $0.35. 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 1.6%. Tapestry's dividend payout ratio is 222.22%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction that occurred on 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 $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Thursday, June 12th. Telsey Advisory Group raised their price objective on shares of Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Bank of America downgraded shares of Tapestry from a "buy" rating to a "neutral" rating and raised their price objective for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Argus raised their price objective on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Citigroup raised their price objective on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $105.47.

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.