Atticus Wealth Management LLC Purchases New Holdings in Tapestry, Inc. $TPR

Key Points

• Atticus Wealth Management LLC acquired a new stake in Tapestry, Inc., purchasing 9,687 shares valued at approximately $851,000 in the 2nd quarter.
• Several hedge funds made significant adjustments to their positions in Tapestry, with WT Asset Management Ltd increasing its shares by 140.6% and GAMMA Investing LLC by an astonishing 8,158.1% in the prior quarter.
• Equities research analysts currently hold a consensus rating of "Moderate Buy" for Tapestry, with an average price target of $106.47, while the company recently reported a quarterly earnings per share (EPS) of $1.04, surpassing estimates.

Atticus Wealth Management LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,687 shares of the luxury accessories retailer's stock, valued at approximately $851,000.

Several other hedge funds have also made changes to their positions in TPR. WT Asset Management Ltd lifted its position in shares of Tapestry by 140.6% in the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock valued at $110,870,000 after acquiring an additional 920,087 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tapestry in the 1st quarter valued at approximately $59,133,000. AQR Capital Management LLC lifted its position in Tapestry by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after buying an additional 838,057 shares in the last quarter. Samlyn Capital LLC lifted its position in Tapestry by 50.2% in the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock worth $138,865,000 after buying an additional 658,889 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Tapestry by 8,158.1% in the 1st quarter. GAMMA Investing LLC now owns 622,988 shares of the luxury accessories retailer's stock worth $43,865,000 after buying an additional 615,444 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TPR shares. Telsey Advisory Group reiterated an "outperform" rating and issued a $125.00 target price on shares of Tapestry in a research report on Thursday, September 11th. Morgan Stanley reiterated an "overweight" rating on shares of Tapestry in a research report on Thursday, September 11th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Thursday, June 12th. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Finally, Evercore ISI cut their target price 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 investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $106.47.

Insider Buying and Selling at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction on 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 directly owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry Stock Performance

NYSE TPR opened at $109.88 on Thursday. 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 capitalization of $22.87 billion, a price-to-earnings ratio of 174.41, a P/E/G ratio of 2.64 and a beta of 1.52. The company's fifty day moving average is $104.85 and its two-hundred day moving average is $86.04. Tapestry, Inc. has a 52-week low of $42.06 and a 52-week high of $114.05.

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, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business 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 $0.40 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is 253.97%.

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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