Pallas Capital Advisors LLC Makes New $3.31 Million Investment in Tapestry, Inc. $TPR

Key Points

• Pallas Capital Advisors acquired 22,590 Tapestry shares worth approximately $3.31 million, while institutional investors collectively own 90.77% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and an average price target of $175.12, despite some target-price reductions.
• Tapestry exceeded quarterly earnings and revenue expectations, reporting $1.32 in EPS and $1.88 billion in revenue, while raising its quarterly dividend from $0.40 to $0.4625 per share.

Pallas Capital Advisors LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,590 shares of the luxury accessories retailer's stock, valued at approximately $3,307,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Acumen Wealth Advisors LLC bought a new stake in Tapestry in the fourth quarter valued at about $28,000. Triumph Capital Management bought a new position in Tapestry during the third quarter worth about $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Tapestry during the fourth quarter worth about $32,000. Cornerstone Planning Group LLC boosted its holdings in Tapestry by 2,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after purchasing an additional 272 shares in the last quarter. Finally, HM Payson & Co. boosted its holdings in Tapestry by 125.8% during the fourth quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer's stock valued at $37,000 after purchasing an additional 161 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley dropped their price objective on Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday. Wells Fargo & Company reduced their target price on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday. Zacks Research lowered shares of Tapestry from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Raymond James Financial reiterated an "outperform" rating and set a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Finally, Barclays lifted their price target on shares of Tapestry from $182.00 to $185.00 and gave the company an "overweight" rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Tapestry currently has a consensus rating of "Moderate Buy" and an average target price of $175.12.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Down 0.4%

Shares of NYSE TPR opened at $128.44 on Tuesday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The firm's 50-day simple moving average is $146.23 and its 200 day simple moving average is $144.77. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The company has a market cap of $25.61 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter last year, the company posted $1.04 EPS. The company's quarterly revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, research analysts expect that Tapestry, Inc. will post 7.88 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be issued a $0.4625 dividend. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry's dividend payout ratio (DPR) is 21.95%.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry's operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.

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