Northwest & Ethical Investments L.P. Acquires Shares of 5,800 Tapestry, Inc. $TPR

Key Points

• Northwest & Ethical Investments L.P. invested $408,000 in Tapestry, Inc. during the first quarter, acquiring 5,800 shares of the luxury accessories retailer's stock.
• Tapestry reported earnings of $1.04 per share, exceeding analysts' expectations, with revenue increasing by 8.3% year-over-year to $1.72 billion.
• The company announced an increase in its quarterly dividend from $0.35 to $0.40 per share, reflecting a positive return on investment for shareholders.

Northwest & Ethical Investments L.P. acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,800 shares of the luxury accessories retailer's stock, valued at approximately $408,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. lifted its holdings in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after buying an additional 197 shares during the period. Greenline Partners LLC acquired a new position in Tapestry during the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Tapestry during the 1st quarter worth about $29,000. Coppell Advisory Solutions LLC lifted its holdings in Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock worth $34,000 after buying an additional 150 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in Tapestry during the 1st quarter worth about $35,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 1.2%

TPR stock traded up $1.1740 during trading on Friday, reaching $99.5640. 3,103,699 shares of the stock were exchanged, compared to its average volume of 4,753,446. The firm's 50 day moving average is $98.72 and its 200 day moving average is $83.53. Tapestry, Inc. has a twelve month low of $39.40 and a twelve month high of $114.05. 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 firm has a market cap of $20.72 billion, a P/E ratio of 158.04, a price-to-earnings-growth ratio of 2.48 and a beta of 1.51.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly 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 business 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 firm's revenue for the quarter was up 8.3% on a year-over-year basis. 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. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on TPR. Citigroup lifted their target price on Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Telsey Advisory Group lifted their target price on Tapestry from $92.00 to $125.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Wells Fargo & Company lifted their target price on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Raymond James Financial reissued an "outperform" rating and issued a $115.00 price objective (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Finally, Morgan Stanley boosted their price objective on Tapestry from $90.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.47.

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.