Quantbot Technologies LP Makes New Investment in Tapestry, Inc. $TPR

Quantbot Technologies LP acquired a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,710 shares of the luxury accessories retailer's stock, valued at approximately $1,421,000.

Several other hedge funds also recently modified their holdings of TPR. Keating Financial Advisory Services Inc. purchased a new position in Tapestry during the 2nd quarter worth $31,000. Acumen Wealth Advisors LLC bought a new position in shares of Tapestry during the fourth quarter valued at about $28,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the second quarter valued at about $32,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Tapestry during the fourth quarter worth about $32,000. Finally, Triumph Capital Management bought a new stake in Tapestry in the 3rd quarter worth about $29,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Trading Down 1.6%

Shares of TPR stock opened at $130.08 on Wednesday. The company has a 50 day moving average of $144.37 and a 200-day moving average of $144.90. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The firm has a market cap of $25.94 billion, a P/E ratio of 17.84, a PEG ratio of 1.67 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 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. Tapestry's revenue for the quarter was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Tapestry's previous quarterly dividend of $0.40. Tapestry's payout ratio is currently 21.95%.

Analyst Ratings Changes

Several equities research analysts have commented on TPR shares. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Weiss Ratings raised Tapestry from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Wells Fargo & Company reduced their target price on Tapestry from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, August 13th. UBS Group increased their price target on Tapestry from $230.00 to $232.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Daiwa Securities Group raised Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by corporate insiders.

Tapestry Company Profile

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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