QRG Capital Management Inc. Purchases 3,411 Shares of Tapestry, Inc. $TPR

Key Points

• QRG Capital Management Inc. increased its stake in Tapestry, Inc. by 19.1%, acquiring an additional 3,411 shares, bringing its total holdings to 21,224 shares valued at approximately $1.86 million.
• Tapestry reported earnings of $1.04 per share for the last quarter, exceeding analysts' expectations, with revenues of $1.72 billion reflecting an 8.3% year-over-year increase.
• The company recently raised its quarterly dividend from $0.35 to $0.40, resulting in an annual dividend yield of 1.4%.

QRG Capital Management Inc. raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 19.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,224 shares of the luxury accessories retailer's stock after buying an additional 3,411 shares during the quarter. QRG Capital Management Inc.'s holdings in Tapestry were worth $1,864,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TPR. NBC Securities Inc. increased its holdings in Tapestry by 172,300.0% in the 1st quarter. NBC Securities Inc. now owns 1,724 shares of the luxury accessories retailer's stock valued at $121,000 after buying an additional 1,723 shares during the period. Wedmont Private Capital grew its holdings in shares of Tapestry by 12.8% during the 1st quarter. Wedmont Private Capital now owns 4,243 shares of the luxury accessories retailer's stock valued at $299,000 after purchasing an additional 480 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Tapestry by 26.6% during the 1st quarter. Farther Finance Advisors LLC now owns 9,201 shares of the luxury accessories retailer's stock valued at $671,000 after purchasing an additional 1,933 shares during the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Tapestry by 31.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 22,751 shares of the luxury accessories retailer's stock valued at $1,602,000 after purchasing an additional 5,506 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Tapestry by 17.3% during the 1st quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer's stock valued at $623,000 after purchasing an additional 1,304 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 0.3%

Shares of NYSE TPR opened at $115.13 on Wednesday. The company has a market capitalization of $23.83 billion, a P/E ratio of 182.75, a price-to-earnings-growth ratio of 2.78 and a beta of 1.57. Tapestry, Inc. has a 52-week low of $43.07 and a 52-week high of $117.77. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The company's 50 day moving average price is $107.35 and its 200-day moving average price is $89.92.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 2.61% and a return on equity of 68.02%. The company's revenue for the quarter was up 8.3% on a year-over-year basis. 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. Equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a $0.40 dividend. This is an increase from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Tapestry's dividend payout ratio is presently 253.97%.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction on Monday, August 25th. The shares were 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 in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TPR shares. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Barclays lifted their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a 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 report on Friday, August 15th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Finally, Bank of America lowered shares of Tapestry from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $108.42.

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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