Campbell & CO Investment Adviser LLC Buys New Position in Tapestry, Inc. $TPR

Key Points

• Campbell & CO Investment Adviser LLC acquired 41,676 shares of Tapestry, Inc., valued at approximately $2.93 million, according to a recent SEC filing.
• Tapestry reported better-than-expected earnings of $1.04 per share for the latest quarter, exceeding the consensus estimate by $0.02, with revenue of $1.72 billion.
• The company announced an increase in its quarterly dividend to $0.40, reflecting a positive change from the previous $0.35 dividend, representing a yield of 1.6%.

Campbell & CO Investment Adviser LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 41,676 shares of the luxury accessories retailer's stock, valued at approximately $2,934,000.

Several other hedge funds have also modified their holdings of TPR. MetLife Investment Management LLC lifted its holdings in shares of Tapestry by 3.1% during the fourth quarter. MetLife Investment Management LLC now owns 61,665 shares of the luxury accessories retailer's stock valued at $4,029,000 after purchasing an additional 1,827 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Tapestry by 1,020.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 4,806 shares of the luxury accessories retailer's stock valued at $314,000 after purchasing an additional 4,377 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tapestry by 593.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after purchasing an additional 1,875,753 shares during the last quarter. Coppell Advisory Solutions LLC lifted its holdings in shares of Tapestry by 40.7% during the fourth 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 last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Tapestry by 6.3% during the fourth quarter. Coldstream Capital Management Inc. now owns 9,113 shares of the luxury accessories retailer's stock valued at $595,000 after purchasing an additional 540 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 7,882 shares of the 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TPR has been the subject of several analyst reports. Citigroup upped their target price on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Sanford C. Bernstein reissued an "outperform" rating and set a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Morgan Stanley upped their price target on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company upped their price target on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Finally, The Goldman Sachs Group upped their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Stock Up 2.4%

TPR stock traded up $2.39 during mid-day trading on Tuesday, hitting $100.86. The stock had a trading volume of 15,803,982 shares, compared to its average volume of 4,755,992. 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 stock has a market capitalization of $20.99 billion, a price-to-earnings ratio of 160.10, a PEG ratio of 2.48 and a beta of 1.51. The company has a fifty day moving average of $99.37 and a 200 day moving average of $83.86. 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 announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company earned $0.92 EPS. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities analysts expect 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. Investors 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 yield of 1.6%. The ex-dividend date is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio is currently 222.22%.

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.