BI Asset Management Fondsmaeglerselskab A S Buys New Shares in Tapestry, Inc. $TPR

Key Points

• BI Asset Management acquired 61,261 shares of Tapestry, Inc., valued at approximately $4.3 million, during the first quarter.
• Tapestry reported a quarterly earnings of $1.04 EPS, surpassing expectations, with an 8.3% revenue increase year-over-year, totaling $1.72 billion.
• The company announced a dividend increase to $0.40 per share, resulting in an annualized yield of 1.6%, effective for investors of record on September 5th.

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 61,261 shares of the luxury accessories retailer's stock, valued at approximately $4,313,000.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock valued at $527,799,000 after purchasing an additional 370,784 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Tapestry by 3.0% during the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after acquiring an additional 83,222 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Tapestry by 593.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock worth $143,198,000 after acquiring an additional 1,875,753 shares during the last quarter. Southpoint Capital Advisors LP acquired a new position in shares of Tapestry during the 4th quarter worth approximately $130,660,000. Finally, WT Asset Management Ltd raised its stake in 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 during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Up 0.9%

NYSE TPR opened at $98.7550 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company has a market cap of $20.55 billion, a price-to-earnings ratio of 156.75, a PEG ratio of 2.47 and a beta of 1.51. The company has a 50 day moving average of $97.98 and a 200-day moving average of $83.18. Tapestry, Inc. has a 1-year low of $39.40 and a 1-year high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities research analysts expect 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. Investors of record on Friday, September 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's payout ratio is presently 222.22%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TPR. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $104.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Wall Street Zen lowered shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. UBS Group lowered their price target on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. The Goldman Sachs Group boosted their price objective on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus 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.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.