Banco Bilbao Vizcaya Argentaria S.A. Raises Position in Tapestry, Inc. $TPR

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Tapestry, Inc. by 13.7% in the first quarter, now holding 82,028 shares valued at approximately $5.75 million.
• Tapestry reported $1.04 earnings per share for the last quarter, exceeding analysts' expectations, with revenues of $1.72 billion, a year-over-year increase of 8.3%.
• The company announced a quarterly dividend increase from $0.35 to $0.40, set to be paid on September 22nd, reflecting a dividend yield of 1.6%.

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 13.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,028 shares of the luxury accessories retailer's stock after acquiring an additional 9,858 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Tapestry were worth $5,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Coppell Advisory Solutions LLC raised its position in shares of Tapestry by 40.7% during the 4th 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. Private Trust Co. NA raised its position in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after purchasing an additional 153 shares during the period. Mather Group LLC. raised its position in shares of Tapestry by 2.8% during the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after purchasing an additional 165 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Tapestry by 25.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after purchasing an additional 194 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

Tapestry stock opened at $98.7550 on Thursday. The company's 50-day moving average price is $97.98 and its 200-day moving average price is $83.18. Tapestry, Inc. has a twelve month low of $39.40 and a twelve month high of $114.05. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The company has a market cap of $20.55 billion, a PE ratio of 156.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.51.

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

Tapestry Increases Dividend

The firm 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 is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. Tapestry's payout ratio is presently 222.22%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TPR shares. 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. 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. Evercore ISI reduced their price target on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Telsey Advisory Group lifted their price target on shares of Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Finally, Wells Fargo & Company lifted their price target on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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