Tapestry, Inc. $TPR is Southpoint Capital Advisors LP's 8th Largest Position

Key Points

• Southpoint Capital Advisors LP increased its stake in Tapestry, Inc. by 25.0% during the first quarter, making it the company's 8th largest holding.
• Tapestry's latest quarterly earnings of $1.04 EPS surpassed analyst expectations, driving an 8.3% revenue increase compared to the same quarter last year.
• The company announced an increase in its quarterly dividend, rising from $0.35 to $0.40, reflecting an annualized yield of 1.6%.

Southpoint Capital Advisors LP raised its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 25.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500,000 shares of the luxury accessories retailer's stock after purchasing an additional 500,000 shares during the period. Tapestry accounts for 4.2% of Southpoint Capital Advisors LP's holdings, making the stock its 8th biggest position. Southpoint Capital Advisors LP owned about 1.21% of Tapestry worth $176,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TPR. Private Trust Co. NA lifted its stake in Tapestry by 27.2% in the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock valued at $50,000 after buying an additional 153 shares in the last quarter. Mather Group LLC. lifted its position in shares of Tapestry by 2.8% in the first quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock valued at $424,000 after acquiring an additional 165 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Tapestry by 25.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 963 shares of the luxury accessories retailer's stock valued at $68,000 after acquiring an additional 194 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Finally, MAI Capital Management boosted its stake in shares of Tapestry by 51.7% in the first quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock worth $42,000 after acquiring an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Raymond James Financial reissued an "outperform" rating and issued a $115.00 price objective (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. UBS Group reduced their target price on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Citigroup boosted their price target on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Finally, Telsey Advisory Group raised their target price on shares of Tapestry from $92.00 to $125.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $105.47.

Tapestry Stock Performance

NYSE TPR opened at $101.73 on Tuesday. Tapestry, Inc. has a twelve month low of $40.08 and a twelve month high of $114.05. The stock has a market cap of $21.17 billion, a PE ratio of 161.48, a P/E/G ratio of 2.57 and a beta of 1.52. The stock has a fifty day simple moving average of $100.73 and a 200-day simple moving average of $84.36. 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 (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

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

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the business's stock in a transaction on 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 sale, the vice president directly owned 21,098 shares of the company's stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.18% of the stock is owned by corporate insiders.

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.

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