Amundi Acquires 87,550 Shares of Tapestry, Inc. $TPR

Key Points

• Amundi has increased its stake in Tapestry, Inc. by 25.4%, now owning 432,323 shares valued at approximately $28.14 million.
• Analyst ratings for Tapestry show a shift with some firms downgrading their ratings, while others have set higher price targets; the current consensus rating is a "Moderate Buy".
• Tapestry has announced an increase in its quarterly dividend from $0.35 to $0.40, representing a yield of 1.5% and reflecting a substantial dividend payout ratio of 253.97%.

Amundi boosted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 25.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 432,323 shares of the luxury accessories retailer's stock after purchasing an additional 87,550 shares during the period. Amundi owned about 0.21% of Tapestry worth $28,140,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the company's 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 sale, the vice president owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company's stock.

Tapestry Stock Performance

NYSE:TPR traded up $0.29 during trading hours on Tuesday, hitting $105.11. 2,857,180 shares of the company traded hands, compared to its average volume of 4,701,410. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of 166.84, a P/E/G ratio of 2.64 and a beta of 1.52. Tapestry, Inc. has a twelve month low of $40.32 and a twelve month high of $114.05. The firm has a 50-day moving average of $102.85 and a 200 day moving average of $85.09. 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 announced its quarterly earnings data 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 analysts' expectations of $1.67 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The business'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, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 253.97%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPR. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 target price (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Wall Street Zen downgraded shares of Tapestry from a "strong-buy" rating to a "buy" rating in a report on Saturday. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Thursday, June 12th. Finally, Barclays reaffirmed an "overweight" rating and set a $105.00 price objective (up from $98.00) on shares of Tapestry in a report on Friday, July 11th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.47.

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.