57,843 Shares in Tapestry, Inc. $TPR Purchased by Mubadala Investment Co PJSC

Key Points

• Mubadala Investment Co PJSC has acquired 57,843 shares of Tapestry, Inc., valued at approximately $4.07 million, making it the company's 17th largest holding.
• Several institutional investors, including Harbour Investments, have increased their stakes in Tapestry, which is now predominantly owned by institutional investors at about 90.77%.
• Tapestry recently raised its quarterly dividend from $0.35 to $0.40, representing an annualized yield of 1.6%, despite a high dividend payout ratio of 222.22%.

Mubadala Investment Co PJSC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 57,843 shares of the luxury accessories retailer's stock, valued at approximately $4,073,000. Tapestry comprises 0.0% of Mubadala Investment Co PJSC's investment portfolio, making the stock its 17th biggest position.

Other hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. raised its stake in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Greenline Partners LLC purchased a new position in shares of Tapestry in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry in the first quarter worth $29,000. Opal Wealth Advisors LLC purchased a new position in shares of Tapestry in the first quarter worth $35,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Tapestry in the first quarter worth $35,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TPR shares. Wells Fargo & Company boosted their price target on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Telsey Advisory Group upped their price objective on Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Morgan Stanley boosted their price target on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Citigroup boosted their price target on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $105.47.

Tapestry Price Performance

Shares of NYSE TPR traded up $1.44 during mid-day trading on Wednesday, reaching $104.23. The company's stock had a trading volume of 3,189,619 shares, compared to its average volume of 4,936,804. The firm has a market capitalization of $21.69 billion, a PE ratio of 165.45, a P/E/G ratio of 2.57 and a beta of 1.52. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The stock has a fifty day moving average of $101.04 and a two-hundred day moving average of $84.49. Tapestry, Inc. has a 52 week low of $40.08 and a 52 week high of $114.05.

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

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's dividend payout ratio is currently 253.97%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the company'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 completion of the transaction, the vice president owned 21,098 shares of the company's stock, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.18% of the stock is currently owned by company insiders.

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.