Lbp Am Sa Acquires New Holdings in Tapestry, Inc. $TPR

Key Points

• Lbp Am Sa has acquired a new stake in Tapestry, Inc., holding 75,764 shares valued at approximately $6,653,000.
• Tapestry reported quarterly earnings of $1.04 EPS, exceeding the consensus estimate, and revenue increased by 8.3% year-over-year, reaching $1.72 billion.
• The company's quarterly dividend was raised from $0.35 to $0.40 per share, reflecting a 1.4% yield despite a high dividend payout ratio of 253.97%.

Lbp Am Sa acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 75,764 shares of the luxury accessories retailer's stock, valued at approximately $6,653,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock valued at $177,405,000 after purchasing an additional 838,057 shares in the last quarter. Southpoint Capital Advisors LP raised its stake in shares of Tapestry by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer's stock valued at $176,025,000 after purchasing an additional 500,000 shares in the last quarter. Samlyn Capital LLC raised its stake in shares of Tapestry by 50.2% during the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock valued at $138,865,000 after purchasing an additional 658,889 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Tapestry by 21.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer's stock valued at $116,310,000 after purchasing an additional 288,219 shares in the last quarter. Finally, WT Asset Management Ltd raised its stake in shares of Tapestry by 140.6% during the first 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 in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Price Performance

NYSE TPR opened at $113.96 on Thursday. The stock's 50-day moving average price is $106.82 and its two-hundred day moving average price is $88.61. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company has a market cap of $23.59 billion, a PE ratio of 180.89, a PEG ratio of 2.73 and a beta of 1.57. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $117.00.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 5th. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio is presently 253.97%.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The stock was 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 of the company's stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of several research reports. Evercore ISI dropped their price target on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. UBS Group dropped their price target on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Argus boosted their price target on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Wells Fargo & Company boosted their price target on shares of Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price target (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $106.47.

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.

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