Quantinno Capital Management LP Increases Holdings in Tapestry, Inc. $TPR

Key Points

• Quantinno Capital Management increased its Tapestry stake by 32.7% in the first quarter, adding 156,357 shares to own 633,973 shares worth approximately $89.5 million. Institutional investors collectively own 90.77% of Tapestry.
• Analysts maintain a positive outlook, with one Strong Buy, 15 Buy and five Hold ratings; the consensus rating is “Moderate Buy” with a $170.06 target price. UBS recently raised its target to $230.
• Tapestry exceeded quarterly expectations with $1.66 in EPS and $1.92 billion in revenue, while revenue rose 21.2% year over year. The company also paid a quarterly dividend of $0.40 per share, though two CEOs disclosed stock sales during the period.

Quantinno Capital Management LP lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 32.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 633,973 shares of the luxury accessories retailer's stock after purchasing an additional 156,357 shares during the period. Quantinno Capital Management LP owned about 0.31% of Tapestry worth $89,460,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPR. World Investment Advisors grew its position in Tapestry by 3.6% during the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer's stock valued at $279,000 after buying an additional 69 shares during the period. Horizon Bancorp Inc. IN raised its position in Tapestry by 4.7% in the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer's stock worth $222,000 after acquiring an additional 71 shares during the period. Smartleaf Asset Management LLC raised its position in Tapestry by 2.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer's stock worth $477,000 after acquiring an additional 73 shares during the period. Northwest Wealth Management LLC boosted its stake in Tapestry by 3.4% in the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer's stock valued at $315,000 after acquiring an additional 82 shares during the last quarter. Finally, NewEdge Wealth LLC boosted its stake in Tapestry by 2.7% in the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer's stock valued at $450,000 after acquiring an additional 85 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. UBS Group boosted their target price on Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Robert W. Baird upped their price target on Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $170.06.

Tapestry Trading Up 3.4%

Shares of TPR opened at $147.52 on Tuesday. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. The stock has a market cap of $29.80 billion, a PE ratio of 47.28, a P/E/G ratio of 1.30 and a beta of 1.43. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The business's 50-day moving average price is $142.78 and its 200-day moving average price is $142.69.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the business posted $1.03 EPS. The business's quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry's dividend payout ratio is currently 51.28%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer owned 652,434 shares of the company's stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction 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 SEC filing for this sale provides additional information. Corporate insiders own 1.32% of the company's stock.

Tapestry 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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