Quantum Financial Advisors LLC Purchases Shares of 2,319 Tapestry, Inc. $TPR

Key Points

• Quantum Financial Advisors LLC has acquired a new position in Tapestry, Inc., purchasing 2,319 shares valued at approximately $204,000 during the second quarter.
• The company reported $1.04 EPS for the last quarter, exceeding analysts' expectations, with a revenue increase of 8.3% year-over-year.
• Analysts are generally optimistic about Tapestry, with a consensus rating of "Moderate Buy" and a target price of $106.47.

Quantum Financial Advisors LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,319 shares of the luxury accessories retailer's stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. First PREMIER Bank acquired a new position in shares of Tapestry in the 2nd quarter worth approximately $25,000. CX Institutional boosted its holdings in shares of Tapestry by 8.3% in the 2nd quarter. CX Institutional now owns 7,273 shares of the luxury accessories retailer's stock worth $639,000 after acquiring an additional 556 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Tapestry by 91.2% in the 2nd quarter. UMB Bank n.a. now owns 2,449 shares of the luxury accessories retailer's stock worth $215,000 after acquiring an additional 1,168 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Tapestry by 192.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 64,300 shares of the luxury accessories retailer's stock worth $5,645,000 after acquiring an additional 42,300 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Tapestry by 351.2% during the 2nd quarter. Exchange Traded Concepts LLC now owns 72,177 shares of the luxury accessories retailer's stock worth $6,338,000 after buying an additional 56,180 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPR has been the topic of several research reports. Barclays upped their price objective on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Argus upped their price objective on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Thursday, June 12th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 target price on shares of Tapestry in a research report on Thursday, September 11th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and a consensus target price of $106.47.

Tapestry Stock Up 1.7%

Shares of NYSE:TPR traded up $1.91 during mid-day trading on Tuesday, reaching $115.79. 1,276,398 shares of the stock were exchanged, compared to its average volume of 4,816,251. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The company has a market cap of $24.10 billion, a P/E ratio of 183.80, a P/E/G ratio of 2.75 and a beta of 1.52. Tapestry, Inc. has a one year low of $43.07 and a one year high of $116.18. The stock's 50 day simple moving average is $105.73 and its 200-day simple moving average is $86.85.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data 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. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company earned $0.92 earnings per share. Tapestry's quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were paid 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 annualized dividend and a yield of 1.4%. Tapestry's dividend payout ratio (DPR) is 253.97%.

Insider Activity

In related news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were 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. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm's stock in a transaction dated 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 completion of the sale, the director owned 8,153 shares of the company's stock, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry 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.