Tapestry, Inc. $TPR Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Tapestry, Inc. by 50.6%, acquiring an additional 118,200 shares, bringing its total holdings to 351,793 shares valued at approximately $24.6 million.
• Tapestry recently reported a quarterly earnings per share (EPS) of $1.04, exceeding analysts' expectations and achieving a revenue of $1.72 billion, which is an 8.3% increase year-over-year.
• The company announced an increase in its quarterly dividend from $0.35 to $0.40, representing an annualized yield of 1.6%, with the ex-dividend date set for September 5th.

Hsbc Holdings PLC grew its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 50.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,793 shares of the luxury accessories retailer's stock after purchasing an additional 118,200 shares during the period. Hsbc Holdings PLC owned approximately 0.17% of Tapestry worth $24,596,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Tapestry in the 1st quarter valued at $311,000. Quantbot Technologies LP purchased a new stake in Tapestry during the first quarter worth about $4,254,000. Wellington Management Group LLP increased its stake in Tapestry by 72.8% during the first quarter. Wellington Management Group LLP now owns 274,215 shares of the luxury accessories retailer's stock worth $19,307,000 after purchasing an additional 115,528 shares during the period. Brooklyn Investment Group lifted its position in shares of Tapestry by 33.3% during the first quarter. Brooklyn Investment Group now owns 1,433 shares of the luxury accessories retailer's stock worth $101,000 after purchasing an additional 358 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Tapestry in the first quarter valued at approximately $408,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Up 2.4%

Shares of Tapestry stock traded up $2.39 during trading hours on Tuesday, hitting $100.86. The company had a trading volume of 15,803,982 shares, compared to its average volume of 4,987,633. 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 company's 50-day moving average is $99.01 and its two-hundred day moving average is $83.74. The company has a market cap of $20.99 billion, a P/E ratio of 160.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. Tapestry, Inc. has a twelve month low of $39.40 and a twelve month high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. Tapestry's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. 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 fiscal year.

Tapestry Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Citigroup upped their target price on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Evercore ISI cut their price objective on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, August 15th. Telsey Advisory Group increased their price objective on Tapestry from $92.00 to $125.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Argus lifted their target price on Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a report on Friday. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.