Tapestry, Inc. $TPR Shares Bought by Samlyn Capital LLC

Key Points

• Samlyn Capital LLC increased its stake in Tapestry, Inc. by 50.2% during the first quarter, holding approximately 1,972,241 shares, making it the company's 14th largest position.
• Tapestry recently reported $1.04 EPS, exceeding analysts' expectations, with a revenue increase of 8.3% year-over-year.
• The company announced a quarterly dividend increase to $0.40 per share, representing a yield of 1.5%, up from the previous dividend of $0.35.

Samlyn Capital LLC increased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,972,241 shares of the luxury accessories retailer's stock after purchasing an additional 658,889 shares during the quarter. Tapestry accounts for 2.1% of Samlyn Capital LLC's investment portfolio, making the stock its 14th biggest holding. Samlyn Capital LLC owned approximately 0.95% of Tapestry worth $138,865,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harbour Investments Inc. increased its position in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock worth $25,000 after buying an additional 197 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Tapestry in the first quarter valued at $29,000. Greenline Partners LLC acquired a new position in shares of Tapestry during the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of Tapestry during the first quarter worth about $35,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Tapestry during the first quarter worth about $35,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Tapestry Stock Performance

TPR stock traded up $0.29 during midday trading on Tuesday, reaching $105.11. The company had a trading volume of 2,857,180 shares, compared to its average volume of 4,701,410. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average price of $102.85 and a 200 day moving average price of $85.09. Tapestry, Inc. has a fifty-two week low of $40.32 and a fifty-two week high of $114.05. The firm has a market capitalization of $21.88 billion, a PE ratio of 166.84, a P/E/G ratio of 2.64 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 return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. Tapestry'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. Analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently announced 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. 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 dividend on an annualized basis and a yield of 1.5%. Tapestry's payout ratio is presently 253.97%.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The stock was 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 directly owned 21,098 shares in the company, 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 SEC, which is available at this link. 1.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TPR. Wells Fargo & Company lifted their target price on Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Morgan Stanley lifted their target price on Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $112.00 target price on shares of Tapestry in a research report on Friday, August 15th. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lifted their target price on Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $105.47.

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.