Quantitative Investment Management LLC Acquires Shares of 38,614 Tapestry, Inc. $TPR

Key Points

• Quantitative Investment Management LLC has acquired a new stake in Tapestry, Inc., purchasing 38,614 shares valued at approximately $2.7 million in the first quarter.
• Wall Street analysts are optimistic about Tapestry's growth, with target prices raised to between $105 and $120 and a consensus rating of "Moderate Buy."
• Tapestry recently increased its quarterly dividend to $0.40 per share, up from $0.35, signaling a commitment to returning value to shareholders.

Quantitative Investment Management LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 38,614 shares of the luxury accessories retailer's stock, valued at approximately $2,718,000.

A number of other large investors also recently modified their holdings of the business. Jump Financial LLC boosted its stake in shares of Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock worth $5,612,000 after buying an additional 72,623 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Tapestry by 266.6% during the 1st quarter. AlphaQuest LLC now owns 10,784 shares of the luxury accessories retailer's stock worth $759,000 after buying an additional 7,842 shares during the last quarter. Compound Planning Inc. raised its holdings in shares of Tapestry by 26.8% in the 1st quarter. Compound Planning Inc. now owns 7,248 shares of the luxury accessories retailer's stock valued at $510,000 after purchasing an additional 1,532 shares during the period. Norinchukin Bank The lifted its stake in Tapestry by 5.3% in the 1st quarter. Norinchukin Bank The now owns 10,723 shares of the luxury accessories retailer's stock valued at $755,000 after purchasing an additional 544 shares during the last quarter. Finally, Estate Counselors LLC acquired a new stake in Tapestry in the 1st quarter valued at about $3,716,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of TPR stock traded up $2.39 during trading on Tuesday, hitting $100.86. The company had a trading volume of 15,803,982 shares, compared to its average volume of 4,755,992. 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 firm has a market capitalization of $20.99 billion, a P/E ratio of 160.10, a price-to-earnings-growth ratio of 2.48 and a beta of 1.51. The stock's 50-day moving average price is $99.37 and its 200 day moving average price is $83.86. Tapestry, Inc. has a one year low of $39.40 and a one year high of $114.05.

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, beating the consensus estimate of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. This is an increase from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio is presently 222.22%.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Morgan Stanley lifted their price target on Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Cowen reiterated a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Argus lifted their price target on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a report on Friday. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $105.47.

Insider Activity

In related news, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.18% of the company's stock.

Tapestry Company 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.