KLP Kapitalforvaltning AS Has $4.44 Million Stock Holdings in Tapestry, Inc. $TPR

Key Points

• KLP Kapitalforvaltning AS decreased its stake in Tapestry, Inc. by 4.7% in the second quarter, holding 50,600 shares valued at approximately $4.44 million.
• Tapestry recently reported earnings per share of $1.04, exceeding analysts' expectations, with revenue of $1.72 billion marking an increase of 8.3% year-over-year.
• The company announced a quarterly dividend increase to $0.40 per share, resulting in an annualized yield of 1.5%, boosted from the previous dividend of $0.35.

KLP Kapitalforvaltning AS decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 50,600 shares of the luxury accessories retailer's stock after selling 2,500 shares during the period. KLP Kapitalforvaltning AS's holdings in Tapestry were worth $4,443,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock valued at $177,405,000 after acquiring an additional 838,057 shares during the last quarter. Southpoint Capital Advisors LP raised its position in shares of Tapestry by 25.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer's stock valued at $176,025,000 after acquiring an additional 500,000 shares during the last quarter. Samlyn Capital LLC raised its position in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock valued at $138,865,000 after acquiring an additional 658,889 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Tapestry by 21.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer's stock valued at $116,310,000 after acquiring an additional 288,219 shares during the last quarter. Finally, WT Asset Management Ltd raised its position in shares of Tapestry by 140.6% during the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock valued at $110,870,000 after acquiring an additional 920,087 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $108.35 on Friday. The firm has a market cap of $22.43 billion, a PE ratio of 171.98, a PEG ratio of 2.74 and a beta of 1.57. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 1-year low of $43.07 and a 1-year high of $117.77. The company has a fifty day moving average price of $107.67 and a 200 day moving average price of $90.60.

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 for the quarter, topping analysts' consensus estimates 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 net margin of 2.61% and a return on equity of 68.02%. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, September 5th. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the director directly owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on TPR shares. The Goldman Sachs Group upped their target price on shares of Tapestry from $116.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, October 6th. Cowen reissued a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Evercore ISI decreased their price target on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, August 15th. Argus boosted their price target on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, Barclays boosted their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $108.42.

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.

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