Baader Bank Aktiengesellschaft Grows Position in Tapestry, Inc. $TPR

Key Points

• Baader Bank Aktiengesellschaft increased its holdings in Tapestry, Inc. by 84.1% during the second quarter, acquiring an additional 8,980 shares for a total worth of $1.727 million.
• Multiple large investors, including WT Asset Management Ltd and AQR Capital Management LLC, significantly increased their positions in Tapestry, contributing to 90.77% of the stock being owned by institutional investors.
• Tapestry announced a quarterly dividend increase to $0.40 per share, up from $0.35, with the annualized dividend yield now at 1.5%.

Baader Bank Aktiengesellschaft lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 84.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,663 shares of the luxury accessories retailer's stock after purchasing an additional 8,980 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Tapestry were worth $1,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rafferty Asset Management LLC increased its holdings in shares of Tapestry by 14.3% during the 4th quarter. Rafferty Asset Management LLC now owns 21,667 shares of the luxury accessories retailer's stock valued at $1,416,000 after purchasing an additional 2,713 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in Tapestry during the 4th quarter worth $245,000. Vident Advisory LLC boosted its stake in Tapestry by 7.4% during the 4th quarter. Vident Advisory LLC now owns 57,878 shares of the luxury accessories retailer's stock worth $3,781,000 after purchasing an additional 3,963 shares during the last quarter. Woodline Partners LP acquired a new stake in Tapestry during the 4th quarter worth $914,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tapestry by 3.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,460,110 shares of the luxury accessories retailer's stock valued at $95,389,000 after acquiring an additional 45,492 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company's stock in a transaction that occurred 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 sale, the director owned 8,153 shares of the company's stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Shares of TPR stock traded down $0.33 during trading hours on Monday, hitting $113.86. The stock had a trading volume of 3,408,677 shares, compared to its average volume of 3,925,256. The firm has a market capitalization of $23.70 billion, a PE ratio of 180.73, a PEG ratio of 2.75 and a beta of 1.52. Tapestry, Inc. has a twelve month low of $42.95 and a twelve month high of $115.35. The stock's 50 day moving average is $105.73 and its 200 day moving average is $86.85. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts' consensus estimates 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%. Tapestry's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared 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 represents a $1.60 annualized dividend and a dividend yield of 1.4%. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TPR. Wells Fargo & Company boosted their price target on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Barclays boosted their price target on shares of Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Argus boosted their price objective on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Sanford C. Bernstein reissued an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Finally, Wall Street Zen downgraded Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $106.47.

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.