5,367 Shares in Tapestry, Inc. $TPR Purchased by DoubleLine ETF Adviser LP

Key Points

• DoubleLine ETF Adviser LP invested approximately $378,000 in Tapestry, Inc. ($TPR), acquiring 5,367 shares during the first quarter, indicating growing institutional interest in the luxury accessories retailer.
• Analysts are optimistic about Tapestry's stock, with the consensus rating at "Moderate Buy" and a price target averaging $105.47, suggesting potential upward momentum.
• In an increase of shareholder returns, Tapestry has raised its quarterly dividend from $0.35 to $0.40, marking a yield of 1.5% for investors.

DoubleLine ETF Adviser LP acquired a new position 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. The institutional investor acquired 5,367 shares of the luxury accessories retailer's stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Southpoint Capital Advisors LP bought a new position in Tapestry during the 4th quarter valued at about $130,660,000. Point72 Asset Management L.P. bought a new position in Tapestry during the 4th quarter valued at about $101,433,000. Point72 Hong Kong Ltd acquired a new stake in Tapestry in the 4th quarter valued at about $65,751,000. 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 valued at $110,870,000 after acquiring an additional 920,087 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Tapestry in the 1st quarter valued at about $59,133,000. 90.77% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the firm'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 completion of the sale, the vice president directly owned 21,098 shares of the company's stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TPR shares. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Thursday, June 12th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Telsey Advisory Group boosted their target price on shares of Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Evercore ISI lowered their target price on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Finally, Cowen restated a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.47.

Tapestry Stock Down 1.6%

Shares of TPR traded down $1.66 during trading hours on Friday, reaching $104.16. The stock had a trading volume of 2,489,416 shares, compared to its average volume of 4,717,418. Tapestry, Inc. has a 12 month low of $40.08 and a 12 month high of $114.05. The firm has a 50-day simple moving average of $102.15 and a 200 day simple moving average of $84.81. 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 company has a market capitalization of $21.68 billion, a price-to-earnings ratio of 165.33, a P/E/G ratio of 2.63 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (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 analysts' expectations of $1.67 billion. During the same period last year, the business earned $0.92 EPS. Tapestry'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. Equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a dividend of $0.40 per share. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry's dividend payout ratio (DPR) is 253.97%.

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.