Independent Advisor Alliance Invests $204,000 in Tapestry, Inc. $TPR

Key Points

• Independent Advisor Alliance acquired a new stake in Tapestry, Inc. by purchasing 2,902 shares, valued at approximately $204,000 in the first quarter of the year.
• Tapestry's quarterly earnings report showed an EPS of $1.04, exceeding expectations, while revenue increased by 8.3% year-over-year, totaling $1.72 billion.
• The company has announced a dividend increase from $0.35 to $0.40, with a planned payment date of September 22nd, reflecting Tapestry's ongoing commitment to returning value to shareholders.

Independent Advisor Alliance bought a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,902 shares of the luxury accessories retailer's stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CCM Investment Group LLC purchased a new stake in Tapestry in the 1st quarter worth approximately $1,241,000. Nuveen LLC purchased a new position in shares of Tapestry in the first quarter valued at about $59,133,000. Aigen Investment Management LP bought a new stake in Tapestry in the 1st quarter worth approximately $1,777,000. Virtu Financial LLC increased its stake in Tapestry by 622.0% in the 1st quarter. Virtu Financial LLC now owns 29,947 shares of the luxury accessories retailer's stock worth $2,108,000 after acquiring an additional 25,799 shares during the last quarter. Finally, Atlas Capital Advisors Inc. raised its position in Tapestry by 166.5% during the first quarter. Atlas Capital Advisors Inc. now owns 3,377 shares of the luxury accessories retailer's stock valued at $238,000 after purchasing an additional 2,110 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Up 0.9%

NYSE TPR traded up $0.8350 during midday trading on Wednesday, hitting $98.7550. 3,836,807 shares of the company traded hands, compared to its average volume of 4,956,938. 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 company has a market cap of $20.55 billion, a PE ratio of 156.75, a price-to-earnings-growth ratio of 2.52 and a beta of 1.51. The company's 50-day simple moving average is $97.64 and its 200-day simple moving average is $83.07. Tapestry, Inc. has a 52 week low of $39.40 and a 52 week high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last announced its 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 business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis 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 222.22%.

Analyst Ratings Changes

TPR has been the topic of several recent analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price target (up from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Wells Fargo & Company increased 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. Argus increased their price objective on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Sanford C. Bernstein reissued an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Finally, Citigroup increased their price objective on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.