E Fund Management Co. Ltd. Invests $1.90 Million in Tapestry, Inc. $TPR

Key Points

• E Fund Management acquired 12,968 Tapestry shares worth approximately $1.90 million in the second quarter. Institutional investors collectively own 90.77% of the company.
• Tapestry exceeded quarterly earnings and revenue expectations, reporting $1.32 in EPS and $1.88 billion in revenue, with revenue up 8.9% year over year.
• The company raised its quarterly dividend to $0.4625 from $0.40, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $175.12.

E Fund Management Co. Ltd. purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 12,968 shares of the luxury accessories retailer's stock, valued at approximately $1,898,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Acumen Wealth Advisors LLC purchased a new stake in shares of Tapestry during the 4th quarter worth about $28,000. Triumph Capital Management acquired a new position in Tapestry during the third quarter valued at approximately $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Tapestry during the fourth quarter valued at approximately $32,000. Cornerstone Planning Group LLC grew its stake in Tapestry by 2,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock worth $36,000 after buying an additional 272 shares during the period. Finally, HM Payson & Co. increased its position in shares of Tapestry by 125.8% in the fourth quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer's stock worth $37,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer directly owned 123,258 shares of the company's stock, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.32% of the company's stock.

Tapestry Stock Down 0.6%

NYSE:TPR opened at $131.51 on Thursday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. The company has a market capitalization of $26.22 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The stock has a 50-day simple moving average of $145.78 and a 200 day simple moving average of $144.84.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm's revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts predict that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a $0.4625 dividend. This is a positive change from Tapestry's previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry's payout ratio is currently 21.95%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPR. Daiwa Securities Group upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday. Sanford C. Bernstein reiterated a "market perform" rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a report on Friday, August 14th. Telsey Advisory Group raised their price objective on Tapestry from $160.00 to $175.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Morgan Stanley reduced their price objective on Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Finally, Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $175.12.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry's operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

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