Kovitz Investment Group Partners LLC Boosts Stake in Tapestry, Inc. $TPR

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Tapestry, Inc. by 321.5% in the first quarter, owning nearly 149,000 shares worth $10.49 million by quarter's end.
• Tapestry recently reported earnings of $1.04 per share, surpassing analyst estimates of $1.02, and recorded revenue growth of 8.3% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, up from the previous $0.35, representing an annual yield of 1.6%.

Kovitz Investment Group Partners LLC lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 321.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,991 shares of the luxury accessories retailer's stock after acquiring an additional 113,640 shares during the quarter. Kovitz Investment Group Partners LLC owned 0.07% of Tapestry worth $10,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Harbour Investments Inc. lifted its holdings in shares of Tapestry by 120.1% during 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. Greenline Partners LLC purchased a new stake in Tapestry during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd purchased a new position in Tapestry in the first quarter worth about $29,000. Coppell Advisory Solutions LLC grew its stake in shares of Tapestry by 40.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after purchasing an additional 150 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Tapestry during the 1st quarter valued at about $35,000. Institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPR. Evercore ISI cut their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Argus lifted their price target on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Barclays restated an "overweight" rating and issued a $105.00 price objective (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Telsey Advisory Group lifted their target price on Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Finally, UBS Group reduced their price target on Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $105.47.

Tapestry Price Performance

TPR stock traded up $0.2960 during trading on Wednesday, hitting $98.2160. 2,043,951 shares of the company's stock traded hands, compared to its average volume of 4,945,122. Tapestry, Inc. has a 52 week low of $39.40 and a 52 week high of $114.05. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of 156.03, a P/E/G ratio of 2.52 and a beta of 1.51. The business has a fifty day simple moving average of $97.64 and a 200 day simple moving average of $83.07. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR - Get Free Report) last posted 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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.92 EPS. The business's quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio is presently 222.22%.

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.