Invst LLC Purchases New Position in Tapestry, Inc. $TPR

Key Points

• Invst LLC has invested $574,000 in Tapestry, Inc. by purchasing 8,151 shares during the first quarter, reflecting growing institutional interest in the luxury accessories retailer.
• Tapestry recently increased its quarterly dividend to $0.40 per share, up from $0.35, with a dividend yield of 1.5% and a payout ratio of approximately 253.97%.
• The company's stock performance has shown a one-year high of $114.05 and a low of $42.06, with analysts predicting an average EPS of 4.91 for the current fiscal year.

Invst LLC purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,151 shares of the luxury accessories retailer's stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TPR. Harbour Investments Inc. boosted its position in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry during the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $35,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Trading Up 3.3%

NYSE:TPR traded up $3.50 on Monday, reaching $109.97. 3,415,413 shares of the company's stock were exchanged, compared to its average volume of 3,914,809. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 174.56, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. The business has a fifty day moving average of $104.21 and a 200-day moving average of $85.71. Tapestry, Inc. has a 52-week low of $42.06 and a 52-week high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company 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. As a group, analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business 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 dividend of $0.40 per share. 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 dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's dividend payout ratio is presently 253.97%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America lowered shares of Tapestry from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $95.00 to $115.00 in a report on Tuesday, July 29th. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 price objective on shares of Tapestry in a report on Thursday. Cowen restated a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Thursday, June 12th. Finally, Morgan Stanley restated an "overweight" rating on shares of Tapestry in a report on Thursday. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and a consensus price target of $106.47.

Insider Transactions at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares of the company's stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following 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 disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

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.