Tapestry, Inc. $TPR Shares Bought by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH has increased its stake in Tapestry, Inc. by 26.9%, acquiring an additional 253,282 shares, bringing its total ownership to 1,193,400 shares.
• Tapestry recently announced a quarterly dividend increase to $0.40 per share from its previous $0.35, reflecting a 1.6% yield.
• Tapestry reported a quarterly EPS of $1.04, exceeding analysts' expectations and revealing a revenue growth of 8.3% year-over-year.

Erste Asset Management GmbH raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 26.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,193,400 shares of the luxury accessories retailer's stock after purchasing an additional 253,282 shares during the period. Tapestry accounts for approximately 1.0% of Erste Asset Management GmbH's portfolio, making the stock its 19th biggest holding. Erste Asset Management GmbH owned approximately 0.58% of Tapestry worth $83,970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Rockefeller Capital Management L.P. lifted its holdings in Tapestry by 30.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,643 shares of the luxury accessories retailer's stock valued at $882,000 after purchasing an additional 3,155 shares in the last quarter. Mariner LLC raised its holdings in shares of Tapestry by 10.5% during the 4th quarter. Mariner LLC now owns 39,486 shares of the luxury accessories retailer's stock worth $2,580,000 after acquiring an additional 3,736 shares during the period. GeoWealth Management LLC raised its holdings in shares of Tapestry by 90.4% during the 4th quarter. GeoWealth Management LLC now owns 6,993 shares of the luxury accessories retailer's stock worth $457,000 after acquiring an additional 3,320 shares during the period. Forum Financial Management LP purchased a new position in shares of Tapestry during the 4th quarter worth $333,000. Finally, First Trust Advisors LP raised its holdings in shares of Tapestry by 53.8% during the 4th quarter. First Trust Advisors LP now owns 524,339 shares of the luxury accessories retailer's stock worth $34,255,000 after acquiring an additional 183,527 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on TPR. Citigroup lifted their price target on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, May 9th. UBS Group reduced their price target on Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Sanford C. Bernstein reiterated an "outperform" rating and set a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Barclays reiterated an "overweight" rating and set a $105.00 price target (up previously from $98.00) on shares of Tapestry in a report on Friday, July 11th. Finally, Argus lifted their price target on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $105.47.

Tapestry Trading Up 1.2%

Shares of NYSE:TPR traded up $1.1740 during midday trading on Friday, reaching $99.5640. 3,103,699 shares of the company's stock were exchanged, compared to its average volume of 4,753,446. The stock has a market cap of $20.72 billion, a price-to-earnings ratio of 158.04, a P/E/G ratio of 2.48 and a beta of 1.51. 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 firm's 50 day simple moving average is $98.72 and its two-hundred day simple moving average is $83.53. Tapestry, Inc. has a fifty-two week low of $39.40 and a fifty-two week high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry's revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.6%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio is presently 222.22%.

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.