Sciencast Management LP Invests $1.49 Million in Tapestry, Inc. $TPR

Key Points

• Sciencast Management LP invested approximately $1.49 million in Tapestry, Inc. by purchasing 21,126 shares in the first quarter, indicating strong interest from institutional investors.
• Tapestry recently reported a quarterly earnings per share of $1.04, exceeding analysts' expectations of $1.02, with a revenue of $1.72 billion for the quarter.
• The company has announced an increase in its quarterly dividend from $0.35 to $0.40, reflecting a commitment to return value to shareholders despite a high dividend payout ratio of 253.97%.

Sciencast Management LP bought a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,126 shares of the luxury accessories retailer's stock, valued at approximately $1,487,000.

A number of other institutional investors have also modified their holdings of TPR. Captrust Financial Advisors raised its stake in shares of Tapestry by 17.8% during the 4th quarter. Captrust Financial Advisors now owns 26,515 shares of the luxury accessories retailer's stock valued at $1,732,000 after buying an additional 4,010 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Tapestry by 8.1% during the 4th quarter. Deutsche Bank AG now owns 1,290,500 shares of the luxury accessories retailer's stock valued at $84,308,000 after buying an additional 96,489 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Tapestry by 3.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 88,840 shares of the luxury accessories retailer's stock valued at $5,804,000 after buying an additional 3,064 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Tapestry by 33.3% during the 4th quarter. Focus Partners Wealth now owns 19,816 shares of the luxury accessories retailer's stock valued at $1,295,000 after buying an additional 4,952 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Tapestry during the 4th quarter valued at about $562,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of the 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 transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 price target on shares of Tapestry in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group cut their price objective on Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price objective (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Finally, Barclays boosted their price objective on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a research note on Thursday. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $106.47.

Tapestry Trading Down 0.3%

Tapestry stock traded down $0.32 during mid-day trading on Friday, hitting $106.55. The company's stock had a trading volume of 2,940,833 shares, compared to its average volume of 4,879,451. The firm has a market capitalization of $22.18 billion, a PE ratio of 169.13, a price-to-earnings-growth ratio of 2.65 and a beta of 1.52. Tapestry, Inc. has a 1 year low of $42.06 and a 1 year high of $114.05. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The stock's fifty day moving average is $103.55 and its two-hundred day moving average is $85.38.

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

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 5th. This is an increase from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry's payout ratio is 253.97%.

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.