Russell Investments Group Ltd. Acquires 13,201 Shares of Tapestry, Inc. $TPR

Key Points

• Russell Investments Group Ltd. increased its stake in Tapestry, Inc. by 10.1%, owning approximately $10.1 million worth of shares as of its latest SEC filing.
• Tapestry recently reported $1.04 earnings per share, exceeding analysts' expectations and reflecting an 8.3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.40 per share, raising it from the previous $0.35, which signifies a positive change for investors.

Russell Investments Group Ltd. increased its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 143,409 shares of the luxury accessories retailer's stock after purchasing an additional 13,201 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Tapestry worth $10,097,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TPR. Southpoint Capital Advisors LP acquired a new position in shares of Tapestry during the fourth quarter worth approximately $130,660,000. Price T Rowe Associates Inc. MD raised its stake in shares of Tapestry by 593.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after purchasing an additional 1,875,753 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Tapestry in the fourth quarter valued at $101,433,000. Candlestick Capital Management LP acquired a new position in shares of Tapestry in the fourth quarter valued at $66,902,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Tapestry in the fourth quarter valued at $65,751,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

Tapestry stock traded up $1.1740 during mid-day trading on Friday, hitting $99.5640. 3,103,699 shares of the company were exchanged, compared to its average volume of 4,928,831. 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 business has a fifty day moving average of $98.31 and a 200 day moving average of $83.35. Tapestry, Inc. has a 1-year low of $39.40 and a 1-year high of $114.05. The company has a market capitalization of $20.72 billion, a PE ratio of 158.04, a price-to-earnings-growth ratio of 2.49 and a beta of 1.51.

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

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, September 5th. This is a boost from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. Citigroup upped their target price on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Raymond James Financial restated an "outperform" rating and issued a $115.00 target price (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Barclays restated an "overweight" rating and issued a $105.00 target price (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Sanford C. Bernstein restated an "outperform" rating and issued a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Finally, Argus upped their target price on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $105.47.

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.