Ancora Advisors LLC Has $612,000 Position in Tapestry, Inc. $TPR

Key Points

• Ancora Advisors LLC significantly increased its stake in Tapestry, Inc. by 7,948.1%, owning 8,692 shares worth $612,000 at the end of the first quarter.
• Tapestry's recent quarterly earnings surpassed analysts' expectations, reporting $1.04 EPS and a revenue of $1.72 billion, marking an 8.3% increase compared to the previous year.
• The company declared a quarterly dividend increase from $0.35 to $0.40 per share, demonstrating its strong financial performance and commitment to returning value to shareholders.

Ancora Advisors LLC raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 7,948.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,692 shares of the luxury accessories retailer's stock after acquiring an additional 8,584 shares during the quarter. Ancora Advisors LLC's holdings in Tapestry were worth $612,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in Tapestry by 27.2% in the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after acquiring an additional 153 shares during the last quarter. Mather Group LLC. lifted its stake in Tapestry by 2.8% in the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after acquiring an additional 165 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after acquiring an additional 194 shares during the last quarter. 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. Finally, MAI Capital Management lifted its stake in Tapestry by 51.7% in the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock valued at $42,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TPR. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Citigroup lifted their price objective on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen cut shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research 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 research report on Thursday, June 12th. Finally, Evercore ISI reduced their price objective on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $105.47.

Tapestry Price Performance

NYSE:TPR opened at $104.16 on Friday. Tapestry, Inc. has a 52 week low of $40.08 and a 52 week high of $114.05. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 165.33, a P/E/G ratio of 2.67 and a beta of 1.52. The firm's 50-day simple moving average is $102.15 and its 200 day simple moving average is $84.85. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm earned $0.92 earnings per share. Tapestry'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. As a group, sell-side analysts predict 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. Investors of record on Friday, September 5th will be given a dividend of $0.40 per share. This is a positive change 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 of this dividend is Friday, September 5th. Tapestry's payout ratio is 222.22%.

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.

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