Jump Financial LLC Has $5.61 Million Holdings in Tapestry, Inc. $TPR

Key Points

• Jump Financial LLC significantly increased its stake in Tapestry, Inc., acquiring 72,623 additional shares, raising its total holdings to 79,702 shares valued at approximately $5.6 million.
• Tapestry's recent earnings report showed a 2.61% net margin and revenue growth of 8.3% year-over-year, beating analysts' expectations with $1.72 billion in revenue.
• The company has announced a quarterly dividend increase from $0.35 to $0.40, reflecting a positive change and an annualized yield of 1.6%.

Jump Financial LLC raised its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1,025.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,702 shares of the luxury accessories retailer's stock after purchasing an additional 72,623 shares during the quarter. Jump Financial LLC's holdings in Tapestry were worth $5,612,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TPR. Southpoint Capital Advisors LP acquired a new stake in Tapestry during the 4th quarter valued at $130,660,000. Price T Rowe Associates Inc. MD lifted its holdings in Tapestry by 593.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after purchasing an additional 1,875,753 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Tapestry during the 4th quarter valued at $101,433,000. Candlestick Capital Management LP acquired a new stake in Tapestry during the 4th quarter valued at $66,902,000. Finally, Point72 Hong Kong Ltd acquired a new position in Tapestry in the 4th quarter valued at $65,751,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.18% of the company's stock.

Tapestry Price Performance

Shares of TPR stock traded up $0.25 during trading hours on Wednesday, reaching $100.95. The company's stock had a trading volume of 3,668,685 shares, compared to its average volume of 5,275,290. The firm's 50 day simple moving average is $99.70 and its 200-day simple moving average is $83.98. The company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 160.23, a PEG ratio of 2.54 and a beta of 1.51. Tapestry, Inc. has a fifty-two week low of $39.40 and a fifty-two week high of $114.05. 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 released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $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 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio (DPR) is presently 222.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TPR shares. The Goldman Sachs Group upped their price objective on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a report on Friday, May 9th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Wells Fargo & Company upped their price objective on Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Morgan Stanley upped their price objective on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Cowen reaffirmed a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $105.47.

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.