Broad Peak Investment Advisers Pte Ltd Takes $6.51 Million Position in Tapestry, Inc. $TPR

Key Points

• Broad Peak Investment Advisers Pte Ltd has acquired a new stake in Tapestry, Inc., purchasing 74,100 shares worth approximately $6.51 million, making Tapestry about 2.0% of its total portfolio.
• Tapestry's recent quarterly earnings showed an EPS of $1.04, surpassing the consensus estimate of $1.02, and revenue grew by 8.3% year-over-year.
• The company announced a dividend increase from $0.35 to $0.40 per share, resulting in an annualized dividend of $1.60 and a yield of 1.4%.

Broad Peak Investment Advisers Pte Ltd bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 74,100 shares of the luxury accessories retailer's stock, valued at approximately $6,507,000. Tapestry comprises approximately 2.0% of Broad Peak Investment Advisers Pte Ltd's portfolio, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Tapestry by 17.3% in the first quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer's stock worth $623,000 after buying an additional 1,304 shares during the last quarter. Fifth Third Bancorp lifted its position in Tapestry by 7.6% in the first quarter. Fifth Third Bancorp now owns 18,834 shares of the luxury accessories retailer's stock worth $1,326,000 after buying an additional 1,331 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its position in Tapestry by 47.9% in the first quarter. NorthCrest Asset Manangement LLC now owns 4,643 shares of the luxury accessories retailer's stock worth $327,000 after buying an additional 1,504 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Tapestry by 21.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 94,205 shares of the luxury accessories retailer's stock worth $6,633,000 after buying an additional 16,407 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Tapestry in the first quarter worth $35,000. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction 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 transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.32% of the company's stock.

Tapestry Stock Up 5.3%

NYSE:TPR opened at $113.99 on Tuesday. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.77. The company has a market cap of $23.60 billion, a price-to-earnings ratio of 180.94, a price-to-earnings-growth ratio of 2.61 and a beta of 1.57. The stock has a fifty day simple moving average of $107.72 and a 200-day simple moving average of $91.15. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This is an increase from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. Tapestry's payout ratio is 253.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TPR. JPMorgan Chase & Co. raised their price target on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. The Goldman Sachs Group raised their price target on Tapestry from $116.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, October 6th. Argus raised their price target on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 target price on shares of Tapestry in a research report on Thursday, September 11th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Tapestry in a research report on Thursday, September 11th. Seventeen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and an average price target of $108.42.

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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