EverSource Wealth Advisors LLC Buys 9,124 Shares of Tapestry, Inc. $TPR

Key Points

• EverSource Wealth Advisors LLC increased its stake in Tapestry, Inc. by 69.2%, owning 22,316 shares worth approximately $1.57 million at the end of the last quarter.
• Tapestry's stock recently increased by 5.4%, and the company reported a net margin of 2.61% and quarterly revenue of $1.72 billion, exceeding analyst estimates.
• The company has announced a quarterly dividend of $0.40 per share, increasing from its previous dividend of $0.35, with a yield of 1.6% and a high payout ratio of 222.22%.

EverSource Wealth Advisors LLC lifted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 69.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,316 shares of the luxury accessories retailer's stock after acquiring an additional 9,124 shares during the period. EverSource Wealth Advisors LLC's holdings in Tapestry were worth $1,571,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in Tapestry by 130.1% during the fourth quarter. Renaissance Technologies LLC now owns 111,811 shares of the luxury accessories retailer's stock valued at $7,305,000 after purchasing an additional 63,211 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Tapestry by 30.1% during the fourth 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 grew its position in Tapestry by 10.5% during the fourth quarter. Mariner LLC now owns 39,486 shares of the luxury accessories retailer's stock valued at $2,580,000 after purchasing an additional 3,736 shares in the last quarter. XTX Topco Ltd purchased a new position in Tapestry during the fourth quarter valued at approximately $574,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Tapestry during the fourth quarter valued at approximately $48,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Performance

NYSE:TPR traded up $0.34 during trading hours on Wednesday, hitting $98.26. 2,202,541 shares of the company traded hands, compared to its average volume of 4,946,220. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 156.13, a P/E/G ratio of 2.52 and a beta of 1.51. Tapestry, Inc. has a twelve month low of $39.40 and a twelve month high of $114.05. The firm has a 50-day moving average of $97.64 and a 200 day moving average of $83.07. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

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

Tapestry Increases Dividend

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

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price objective (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Evercore ISI reduced 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. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Thursday, June 12th. Argus lifted their target price on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Wall Street Zen cut shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.