84,400 Shares in Tapestry, Inc. $TPR Acquired by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board has acquired a new position in Tapestry, Inc. by purchasing 84,400 shares valued at approximately $5.94 million.
• Tapestry recently reported earnings with an EPS of $1.04, exceeding estimates, and has set FY 2026 guidance at $5.300-$5.450 EPS.
• The company also announced an increase in its quarterly dividend from $0.35 to $0.40, resulting in an annualized yield of 1.6%.

Canada Pension Plan Investment Board bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 84,400 shares of the luxury accessories retailer's stock, valued at approximately $5,943,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Mercer Global Advisors Inc. ADV grew its stake in Tapestry by 2.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,785 shares of the luxury accessories retailer's stock valued at $1,619,000 after purchasing an additional 671 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in Tapestry in the fourth quarter valued at about $202,000. Caxton Associates LP grew its stake in Tapestry by 35.3% in the fourth quarter. Caxton Associates LP now owns 23,307 shares of the luxury accessories retailer's stock valued at $1,523,000 after purchasing an additional 6,078 shares in the last quarter. Captrust Financial Advisors grew its stake in Tapestry by 17.8% in the fourth quarter. Captrust Financial Advisors now owns 26,515 shares of the luxury accessories retailer's stock valued at $1,732,000 after purchasing an additional 4,010 shares in the last quarter. Finally, Crestline Management LP grew its stake in Tapestry by 18.5% in the fourth quarter. Crestline Management LP now owns 53,755 shares of the luxury accessories retailer's stock valued at $3,512,000 after purchasing an additional 8,393 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling 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 value of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TPR shares. JPMorgan Chase & Co. boosted their price target on Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Evercore ISI reduced their price target on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Finally, Argus boosted 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. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $105.47.

Tapestry Stock Performance

TPR traded down $1.66 on Friday, hitting $104.16. 2,489,416 shares of the stock traded hands, compared to its average volume of 4,755,136. Tapestry, Inc. has a 52 week low of $40.08 and a 52 week high of $114.05. 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 firm has a market capitalization of $21.68 billion, a PE ratio of 165.33, a P/E/G ratio of 2.63 and a beta of 1.52. The business has a fifty day moving average price of $102.15 and a two-hundred day moving average price of $84.82.

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, 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 for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the company posted $0.92 earnings per share. The company's quarterly revenue 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, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio is currently 222.22%.

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.