Focus Partners Advisor Solutions LLC Buys 7,712 Shares of Tapestry, Inc. $TPR

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in Tapestry, Inc. by 237.1%, acquiring a total of 10,964 shares valued at approximately $772,000.
• In recent months, various hedge funds have also significantly changed their positions in Tapestry, with Southpoint Capital Advisors LP making a notable purchase valued at $130.66 million.
• Tapestry recently reported $1.04 EPS for the quarter, exceeding analysts' expectations, and has announced a quarterly dividend increase from $0.35 to $0.40 per share.

Focus Partners Advisor Solutions LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 237.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,964 shares of the luxury accessories retailer's stock after acquiring an additional 7,712 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Tapestry were worth $772,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA increased its position in Tapestry by 27.2% during the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after acquiring an additional 153 shares during the last quarter. Mather Group LLC. increased its position in Tapestry by 2.8% in the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock worth $424,000 after buying an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock worth $68,000 after buying an additional 194 shares in the last quarter. Harbour Investments Inc. increased its position in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after buying an additional 197 shares in the last quarter. Finally, MAI Capital Management increased its position in Tapestry by 51.7% in the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock worth $42,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TPR shares. Citigroup upped their price target on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Evercore ISI reduced their price target on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and upped their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Sanford C. Bernstein restated an "outperform" rating and issued a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Finally, Wells Fargo & Company upped their price objective on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $105.47.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.18% of the company's stock.

Tapestry Price Performance

Tapestry stock traded down $1.66 during midday trading on Friday, reaching $104.16. 2,489,416 shares of the stock traded hands, compared to its average volume of 4,755,136. The stock's fifty day moving average is $102.15 and its 200-day moving average is $84.82. Tapestry, Inc. has a 12 month low of $40.08 and a 12 month high of $114.05. The stock has a market cap of $21.68 billion, a P/E ratio of 165.33, a PEG ratio of 2.63 and a beta of 1.52. The company has a quick ratio of 1.31, a current ratio of 1.87 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 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 company earned $0.92 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts anticipate 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. Investors 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 boost from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. Tapestry's dividend payout ratio is currently 222.22%.

About Tapestry

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.