FORA Capital LLC Invests $6.78 Million in Tapestry, Inc. $TPR

Key Points

• FORA Capital LLC has invested approximately $6.78 million in Tapestry, purchasing 96,287 shares in the first quarter, indicating a significant institutional interest in the company.
• Several analysts revised their price targets for Tapestry, with Citigroup raising it from $81 to $94, and Telsey Advisory Group boosting it from $92 to $125, reflecting optimism about the company's growth prospects.
• Tapestry recently announced a $0.40 quarterly dividend, up from $0.35, scheduled for payment on September 22, showcasing their commitment to returning value to shareholders.

FORA Capital LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 96,287 shares of the luxury accessories retailer's stock, valued at approximately $6,780,000.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tapestry in the 1st quarter worth approximately $1,708,000. Curat Global LLC purchased a new position in Tapestry in the 1st quarter worth approximately $382,000. Nisa Investment Advisors LLC raised its holdings in Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock worth $4,460,000 after acquiring an additional 9,049 shares during the last quarter. Allworth Financial LP raised its holdings in Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock worth $913,000 after acquiring an additional 11,679 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Tapestry in the 1st quarter worth approximately $1,476,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TPR. Citigroup boosted their price objective on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Telsey Advisory Group boosted their price objective on shares of Tapestry from $92.00 to $125.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Raymond James Financial reiterated an "outperform" rating and set a $115.00 target price (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. UBS Group decreased their target price on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Finally, Wells Fargo & Company boosted their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Trading Down 1.1%

NYSE:TPR opened at $98.6110 on Tuesday. 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 has a market capitalization of $20.52 billion, a price-to-earnings ratio of 156.53, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Tapestry, Inc. has a one year low of $39.40 and a one year high of $114.05. The business has a fifty day moving average price of $99.01 and a 200-day moving average price of $83.74.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Sell-side 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. Investors of record on Friday, September 5th will be issued 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 payout ratio is currently 222.22%.

Tapestry Company 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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