Landscape Capital Management L.L.C. Has $1.99 Million Stake in Tapestry, Inc. $TPR

Key Points

• Landscape Capital Management L.L.C. reduced its holdings in Tapestry, Inc. by 68.5%, selling 61,420 shares and leaving it with 28,251 shares valued at approximately $1,989,000.
• Tapestry reported $1.04 earnings per share for the last quarter, exceeding expectations and representing an 8.3% revenue increase year-over-year.
• The company announced a quarterly dividend increase to $0.40, yielding 1.6%, with a payout ratio of 222.22%.

Landscape Capital Management L.L.C. lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 68.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,251 shares of the luxury accessories retailer's stock after selling 61,420 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Tapestry were worth $1,989,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TPR. Ameriprise Financial Inc. grew its stake in Tapestry by 4.8% in the 4th quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after acquiring an additional 370,784 shares during the period. Northern Trust Corp increased its position in shares of Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock worth $183,909,000 after purchasing an additional 83,222 shares during the last quarter. Southpoint Capital Advisors LP bought a new stake in shares of Tapestry during the 4th quarter valued at about $130,660,000. WT Asset Management Ltd boosted its stake in 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 purchasing an additional 920,087 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Tapestry during the 4th quarter valued at about $101,433,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on TPR. The Goldman Sachs Group increased their target price on shares of Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company raised 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. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Thursday, June 12th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $105.47.

Tapestry Price Performance

NYSE:TPR traded up $0.89 on Tuesday, reaching $102.71. The stock had a trading volume of 2,223,988 shares, compared to its average volume of 4,939,522. The company has a market capitalization of $21.38 billion, a P/E ratio of 163.16, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. Tapestry, Inc. has a 1-year low of $40.08 and a 1-year 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. The stock has a fifty day moving average price of $100.73 and a 200-day moving average price of $84.36.

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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company 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 firm posted $0.92 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research 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. Shareholders of record on Friday, September 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 5th. This is a boost from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 1.6%. Tapestry's payout ratio is currently 222.22%.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction that occurred 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 owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.18% of the company's stock.

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.