Redwood Investment Management LLC Makes New $1.32 Million Investment in Tapestry, Inc. $TPR

Key Points

• Redwood Investment Management LLC invested approximately $1.32 million in Tapestry, acquiring 18,710 shares of the luxury accessories retailer in the first quarter.
• Tapestry has reported a revenue increase of 8.3% year-over-year, with earnings per share (EPS) of $1.04 for the last quarter, surpassing analyst expectations.
• The company recently declared a quarterly dividend of $0.40 per share, reflecting an increase from the previous dividend and showing a dividend yield of 1.6%.

Redwood Investment Management LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,710 shares of the luxury accessories retailer's stock, valued at approximately $1,317,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in Tapestry by 4.8% during the fourth quarter. Ameriprise Financial Inc. now owns 8,092,843 shares of the luxury accessories retailer's stock worth $527,799,000 after buying an additional 370,784 shares during the last quarter. Northern Trust Corp grew its position in shares of Tapestry by 3.0% in the 4th quarter. Northern Trust Corp now owns 2,815,081 shares of the luxury accessories retailer's stock valued at $183,909,000 after acquiring an additional 83,222 shares during the period. Southpoint Capital Advisors LP acquired a new position in shares of Tapestry during the 4th quarter worth about $130,660,000. WT Asset Management Ltd increased its stake in shares of Tapestry by 140.6% during the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after purchasing an additional 920,087 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Tapestry in the 4th quarter valued at about $101,433,000. Institutional investors own 90.77% of the company's stock.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction dated 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 transaction, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.18% of the stock is owned by corporate insiders.

Tapestry Trading Down 0.9%

Shares of NYSE:TPR traded down $0.88 during mid-day trading on Friday, hitting $101.73. The company had a trading volume of 3,047,780 shares, compared to its average volume of 5,261,939. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. Tapestry, Inc. has a one year low of $40.08 and a one year high of $114.05. The firm has a fifty day moving average price of $100.42 and a 200 day moving average price of $84.28. The company has a market capitalization of $21.17 billion, a PE ratio of 161.48, a price-to-earnings-growth ratio of 2.59 and a beta of 1.51.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPR. Wells Fargo & Company boosted their price target on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Argus lifted their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. The Goldman Sachs Group increased their price target on Tapestry from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Sanford C. Bernstein restated an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Finally, Evercore ISI lowered their price target on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

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.