Pallas Capital Advisors LLC Grows Stock Position in Tapestry, Inc. $TPR

Key Points

• Pallas Capital Advisors LLC increased its stake in Tapestry, Inc. by 10.9%, acquiring an additional 2,487 shares during the second quarter, bringing its total holdings to 25,238 shares valued at $2,216,000.
• Tapestry reported $1.04 EPS for the latest quarter, surpassing analyst expectations and showing an 8.3% year-over-year revenue increase, totaling $1.72 billion.
• The company announced a quarterly dividend of $0.40, an increase from the previous $0.35, representing an annual yield of 1.5%.

Pallas Capital Advisors LLC boosted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 25,238 shares of the luxury accessories retailer's stock after acquiring an additional 2,487 shares during the period. Pallas Capital Advisors LLC's holdings in Tapestry were worth $2,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. bought a new position in Tapestry in the first quarter valued at about $1,708,000. Curat Global LLC acquired a new position in Tapestry during the 1st quarter valued at about $382,000. Nisa Investment Advisors LLC boosted its stake in shares of Tapestry by 16.7% in the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock worth $4,460,000 after buying an additional 9,049 shares during the last quarter. Jump Financial LLC boosted its position in Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock worth $5,612,000 after purchasing an additional 72,623 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock valued at $913,000 after acquiring an additional 11,679 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the business's 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 sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly owned 8,153 shares of the company's stock, valued at $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Tapestry Trading Up 0.8%

Shares of Tapestry stock traded up $0.95 during trading hours on Friday, hitting $114.25. The company's stock had a trading volume of 5,658,328 shares, compared to its average volume of 3,797,537. The firm has a fifty day moving average of $105.48 and a 200-day moving average of $86.51. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a twelve month low of $42.06 and a twelve month high of $115.35. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 181.35, a P/E/G ratio of 2.75 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating 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 business's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 5th. This is an increase from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 1.4%. Tapestry's dividend payout ratio is currently 253.97%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPR. Cowen restated a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tapestry in a research report on Thursday, September 11th. UBS Group decreased 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. Sanford C. Bernstein restated an "outperform" rating and set a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Finally, Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a report on Sunday, September 14th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $106.47.

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.