DRW Securities LLC Makes New $719,000 Investment in Tapestry, Inc. $TPR

Key Points

• DRW Securities LLC has purchased 10,207 shares of Tapestry, Inc. (NYSE:TPR), valued at approximately $719,000, highlighting increased institutional interest in the luxury accessories retailer.
• Tapestry reported a quarterly earnings per share (EPS) of $1.04, exceeding analysts' estimates and reflecting an 8.3% revenue increase year-over-year.
• The company announced a dividend increase to $0.40 per share, effective September 22nd, raising its annual dividend yield to 1.6%.

DRW Securities LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,207 shares of the luxury accessories retailer's stock, valued at approximately $719,000.

Other institutional investors also recently modified their holdings of the company. Harbour Investments Inc. lifted its position in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Greenline Partners LLC bought a new position in shares of Tapestry in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Tapestry in the 1st quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in shares of Tapestry in the 1st quarter worth $35,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of Tapestry in the 1st quarter worth $35,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Up 1.1%

NYSE:TPR traded up $1.17 during midday trading on Thursday, reaching $105.60. 3,150,852 shares of the stock traded hands, compared to its average volume of 4,926,244. The company has a fifty day moving average of $101.42 and a 200 day moving average of $84.62. Tapestry, Inc. has a 12 month low of $40.08 and a 12 month high of $114.05. 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 stock has a market capitalization of $21.98 billion, a P/E ratio of 167.63, a PEG ratio of 2.57 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results 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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business posted $0.92 EPS. The firm'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, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current 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 issued a $0.40 dividend. 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 currently 222.22%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Sanford C. Bernstein reiterated an "outperform" rating and set a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Argus boosted their price objective on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Evercore ISI cut their price objective 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. Finally, Telsey Advisory Group boosted their price target on shares of Tapestry from $92.00 to $125.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.47.

Tapestry 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.