Counterpoint Mutual Funds LLC Buys New Shares in Tapestry, Inc. $TPR

Key Points

• Counterpoint Mutual Funds LLC has acquired 4,653 shares of Tapestry, Inc. (NYSE: TPR), valued at approximately $409,000, during the 2nd quarter.
• Tapestry recently announced an increase in its quarterly dividend from $0.35 to $0.40 per share, reflecting a commitment to enhancing shareholder returns.
• The company's stock has shown a 1.9% increase, reaching an opening price of $116.04 amidst growing institutional investor interest, with 90.77% of shares now held by such investors.

Counterpoint Mutual Funds LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,653 shares of the luxury accessories retailer's stock, valued at approximately $409,000.

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

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the business'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 completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was 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 stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Tapestry Stock Up 1.9%

TPR stock opened at $116.04 on Wednesday. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $116.49. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock has a market capitalization of $24.15 billion, a price-to-earnings ratio of 184.19, a PEG ratio of 2.75 and a beta of 1.52. The business's fifty day moving average price is $106.01 and its two-hundred day moving average price is $87.05.

Tapestry (NYSE:TPR - Get Free Report) last released 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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company posted $0.92 earnings per share. Tapestry's 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, equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $0.40 per share. This is a boost 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 of this dividend was Friday, September 5th. Tapestry's payout ratio is 253.97%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TPR shares. Evercore ISI cut their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Barclays lifted their target price on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Wall Street Zen cut Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Monday. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Thursday, June 12th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry has an average 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.

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