Cantor Fitzgerald Investment Advisors L.P. Cuts Position in Tapestry, Inc. $TPR

Key Points

• Cantor Fitzgerald Investment Advisors L.P. reduced its stake in Tapestry, Inc. by 66.8%, selling 149,236 shares and retaining 74,007 shares valued at $6,499,000.
• Tapestry reported a net margin of 2.61% and a revenue increase of 8.3% year-over-year, posting an EPS of $1.04, which exceeded analyst expectations.
• The company has increased its quarterly dividend from $0.35 to $0.40, representing a 1.4% yield and reflecting a dividend payout ratio of 253.97%.

Cantor Fitzgerald Investment Advisors L.P. lowered its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 66.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 74,007 shares of the luxury accessories retailer's stock after selling 149,236 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Tapestry were worth $6,499,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbour Investments Inc. grew its stake in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after buying an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter valued at $25,000. First PREMIER Bank purchased a new stake in Tapestry during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Tapestry in the 1st quarter valued at $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Tapestry in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Up 0.7%

TPR stock opened at $113.96 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 firm has a 50 day simple moving average of $106.82 and a 200-day simple moving average of $88.61. The company has a market capitalization of $23.59 billion, a P/E ratio of 180.89, a PEG ratio of 2.73 and a beta of 1.57. Tapestry, Inc. has a twelve month low of $43.07 and a twelve month high of $117.00.

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

Tapestry Increases Dividend

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

Insider Activity at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry 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 completion of the transaction, the director owned 8,153 shares of the company's stock, valued at $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Manesh Dadlani sold 7,882 shares of the 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 sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent research reports. Evercore ISI reduced their price objective on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Telsey Advisory Group reissued an "outperform" rating and set a $125.00 price target on shares of Tapestry in a research report on Thursday, September 11th. Wall Street Zen downgraded shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 22nd. UBS Group reduced their target price on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Finally, Argus upped their target price on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $106.47.

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.

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