Strs Ohio Takes $1.09 Million Position in Tapestry, Inc. $TPR

Key Points

• Strs Ohio has invested approximately $1.09 million in Tapestry, Inc. by purchasing 15,480 shares during the first quarter.
• Tapestry reported a net income of $1.04 per share for the quarter, exceeding analyst expectations and contributing to an 8.3% year-over-year revenue growth.
• The company recently increased its quarterly dividend to $0.40 per share, reflecting confidence in its financial health amidst a high dividend payout ratio of 253.97%.

Strs Ohio acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,480 shares of the luxury accessories retailer's stock, valued at approximately $1,090,000.

Several other large investors have also made changes to their positions in the business. Flaharty Asset Management LLC purchased a new stake in Tapestry in the first quarter valued at $25,000. Harbour Investments Inc. lifted its holdings in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after buying an additional 197 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry in the 1st quarter valued at about $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Tapestry in the first quarter worth about $35,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Tapestry during the first quarter worth about $35,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

NYSE TPR traded down $0.33 during mid-day trading on Monday, hitting $113.86. The stock had a trading volume of 3,408,677 shares, compared to its average volume of 3,925,256. Tapestry, Inc. has a twelve month low of $42.95 and a twelve month high of $115.35. 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 firm's 50 day moving average is $105.73 and its 200 day moving average is $86.85. The stock has a market capitalization of $23.70 billion, a price-to-earnings ratio of 180.73, a PEG ratio of 2.75 and a beta of 1.52.

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

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors 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. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's payout ratio is 253.97%.

Insider Buying and Selling

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business'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 transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Analyst Upgrades and Downgrades

TPR has been the topic of several recent research reports. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective on the stock in a research report on Thursday, June 12th. Morgan Stanley reiterated an "overweight" rating on shares of Tapestry in a research note on Thursday, September 11th. Barclays raised their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Raymond James Financial reiterated an "outperform" rating and issued a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Finally, Evercore ISI lowered their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $106.47.

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.