Federation des caisses Desjardins du Quebec Has $1.45 Million Stock Holdings in Tapestry, Inc. $TPR

Key Points

• The Federation des caisses Desjardins du Quebec reduced its stake in Tapestry, Inc. by 47.9%, holding 20,557 shares valued at approximately $1.45 million after selling 18,880 shares in the first quarter.
• Tapestry recently reported a quarterly earnings per share (EPS) of $1.04, exceeding analysts' expectations, and recorded 8.3% revenue growth year-over-year to $1.72 billion.
• The company declared an increase in its quarterly dividend to $0.40 per share, effective September 22, raising its annual yield to 1.5%.

Federation des caisses Desjardins du Quebec trimmed its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 47.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,557 shares of the luxury accessories retailer's stock after selling 18,880 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Tapestry were worth $1,447,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. acquired a new position in Tapestry in the 1st quarter valued at $1,708,000. Curat Global LLC acquired a new stake in shares of Tapestry during the 1st quarter worth $382,000. Nisa Investment Advisors LLC grew its holdings in shares of Tapestry by 16.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock worth $4,460,000 after purchasing an additional 9,049 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock worth $5,612,000 after purchasing an additional 72,623 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Tapestry by 689.0% during the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock worth $913,000 after purchasing an additional 11,679 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TPR. Bank of America lowered Tapestry from a "buy" rating to a "neutral" rating and increased their target price for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a report on Thursday, June 12th. Raymond James Financial reissued an "outperform" rating and set a $115.00 target price (up from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their target price on Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Cowen reissued a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Price Performance

Tapestry stock opened at $104.16 on Monday. The stock has a 50-day moving average price of $102.15 and a two-hundred day moving average price of $84.81. Tapestry, Inc. has a 12 month low of $40.08 and a 12 month high of $114.05. The company has a market capitalization of $21.68 billion, a PE ratio of 165.33, a P/E/G ratio of 2.63 and a beta of 1.52. 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 EPS for the quarter, beating 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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $0.92 earnings per share. The business's revenue for the quarter was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a dividend of $0.40 per share. 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry's payout ratio is 253.97%.

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.

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