Tapestry, Inc. $TPR Shares Acquired by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC increased its holdings in Tapestry, Inc. by 17.6%, purchasing an additional 21,942 shares, bringing their total to 146,891 shares valued at approximately $12.9 million.
• The company's recent quarterly earnings report showed a better-than-expected EPS of $1.04, surpassing estimates, with a revenue of $1.72 billion, marking an 8.3% year-over-year increase.
• Tapestry has announced a dividend increase to $0.40 per share from $0.35, with a dividend yield of 1.5% based on a payout ratio of 253.97%.

Reinhart Partners LLC. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,891 shares of the luxury accessories retailer's stock after purchasing an additional 21,942 shares during the period. Reinhart Partners LLC. owned approximately 0.07% of Tapestry worth $12,899,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TPR. Harbour Investments Inc. raised its holdings in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after purchasing an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new stake in shares of Tapestry in the first quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Tapestry in the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC bought a new stake in Tapestry in the 1st quarter valued at about $35,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry during the 1st quarter worth $35,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TPR. Cowen reissued a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. TD Cowen upgraded shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research report on Thursday, June 12th. Argus raised their target price on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Barclays upped their price target on shares of Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Finally, Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $106.47.

Insider Activity at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred on 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 transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction 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 $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.18% of the company's stock.

Tapestry Stock Up 0.8%

Shares of TPR stock traded up $0.95 during trading hours on Friday, reaching $114.25. The company had a trading volume of 5,658,328 shares, compared to its average volume of 3,797,537. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The company has a market cap of $23.78 billion, a price-to-earnings ratio of 181.35, a price-to-earnings-growth ratio of 2.73 and a beta of 1.52. The business has a fifty day simple moving average of $105.48 and a 200-day simple moving average of $86.47. Tapestry, Inc. has a 12 month low of $42.06 and a 12 month high of $115.35.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $1.72 billion for 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 revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $0.40 dividend. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.4%. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

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.