Caxton Associates LLP Takes $3.68 Million Position in Tapestry, Inc. $TPR

Key Points

• Caxton Associates LLP invested approximately $3.68 million in Tapestry, buying 52,308 shares of the luxury accessories retailer during the first quarter of the year.
• Tapestry announced a quarterly dividend of $0.40 per share, reflecting an increase from their previous dividend of $0.35, with a current yield of 1.5%.
• Analysts are optimistic about Tapestry’s stock, with several brokerages raising their price targets and issuing ratings of "buy" and "overweight," indicating positive market sentiment.

Caxton Associates LLP acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 52,308 shares of the luxury accessories retailer's stock, valued at approximately $3,683,000.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after acquiring an additional 838,057 shares during the period. Southpoint Capital Advisors LP raised its stake in shares of Tapestry by 25.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer's stock valued at $176,025,000 after acquiring an additional 500,000 shares in the last quarter. Samlyn Capital LLC raised its stake in shares of Tapestry by 50.2% in the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock valued at $138,865,000 after acquiring an additional 658,889 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Tapestry by 21.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer's stock valued at $116,310,000 after acquiring an additional 288,219 shares in the last quarter. Finally, WT Asset Management Ltd increased its position 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 worth $110,870,000 after buying an additional 920,087 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Tapestry stock traded down $0.32 on Friday, reaching $106.55. The company's stock had a trading volume of 2,937,826 shares, compared to its average volume of 4,875,299. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 169.13, a PEG ratio of 2.65 and a beta of 1.52. The business's fifty day moving average price is $103.55 and its 200 day moving average price is $85.38. Tapestry, Inc. has a twelve month low of $42.06 and a twelve month high of $114.05.

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, topping analysts' consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders 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 dividend yield of 1.5%. 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 currently 253.97%.

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the company'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 of the company's stock, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on TPR shares. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Thursday, June 12th. Raymond James Financial restated an "outperform" rating and set a $115.00 price objective (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Telsey Advisory Group restated an "outperform" rating and set a $125.00 price objective on shares of Tapestry in a research report on Thursday. UBS Group lowered their price objective on Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Finally, Cowen restated a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $106.47.

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.