Systematic Financial Management LP Sells 27,042 Shares of Tapestry, Inc. $TPR

Key Points

• Systematic Financial Management LP reduced its stake in Tapestry, Inc. by 6.7%, holding 378,617 shares worth approximately $26.7 million.
• Tapestry recently announced a quarterly dividend increase from $0.35 to $0.40, set to be paid to shareholders on September 22nd.
• The company reported earnings per share (EPS) of $1.04 for the last quarter, exceeding analyst expectations of $1.02, with revenue of $1.72 billion, up 8.3% year-over-year.

Systematic Financial Management LP lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 378,617 shares of the luxury accessories retailer's stock after selling 27,042 shares during the period. Systematic Financial Management LP owned about 0.18% of Tapestry worth $26,658,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Tapestry during the 1st quarter valued at $1,708,000. Curat Global LLC acquired a new stake in shares of Tapestry during the 1st quarter valued at $382,000. Nisa Investment Advisors LLC boosted its stake in shares of Tapestry by 16.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock valued at $4,460,000 after buying an additional 9,049 shares during the period. Allworth Financial LP lifted its stake in shares of Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock valued at $913,000 after purchasing an additional 11,679 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of Tapestry in the 1st quarter valued at $1,476,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Activity

In other news, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction dated Monday, August 25th. The shares were 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 approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.18% of the company's stock.

Tapestry Stock Performance

Tapestry stock traded up $2.39 on Tuesday, reaching $100.86. 15,803,982 shares of the stock were exchanged, compared to its average volume of 4,755,992. The stock has a market cap of $20.99 billion, a PE ratio of 160.10, a PEG ratio of 2.48 and a beta of 1.51. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a twelve month low of $39.40 and a twelve month high of $114.05. The firm has a fifty day moving average price of $99.37 and a two-hundred day moving average price of $83.86.

Tapestry (NYSE:TPR - Get Free Report) last posted 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 net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The business's 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. Sell-side 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is presently 222.22%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPR shares. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Barclays reaffirmed an "overweight" rating and issued a $105.00 price objective (up previously from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Evercore ISI reduced their price objective on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $104.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently 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.