Tapestry, Inc. $TPR Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners has reduced its stake in Tapestry, Inc. by 14%, selling 55,900 shares and now owning approximately 342,000 shares valued at $24 million.
• Tapestry recently reported earnings of $1.04 EPS, exceeding estimates, and increased its quarterly dividend to $0.40 per share, reflecting a 14.3% raise from the previous dividend.
• Despite various changes in analysts' price targets, the stock is currently rated as a "Moderate Buy" with a consensus target price of $105.47, showing a positive outlook among analysts.

Adage Capital Partners GP L.L.C. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 342,000 shares of the luxury accessories retailer's stock after selling 55,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.17% of Tapestry worth $24,080,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TPR. Southpoint Capital Advisors LP raised its holdings in shares of Tapestry by 25.0% in the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer's stock valued at $176,025,000 after acquiring an additional 500,000 shares in the last quarter. WT Asset Management Ltd grew its position in shares of Tapestry by 140.6% in the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after buying an additional 920,087 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $101,433,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tapestry by 3.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,460,110 shares of the luxury accessories retailer's stock valued at $95,389,000 after buying an additional 45,492 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Tapestry by 8.1% in the 4th quarter. Deutsche Bank AG now owns 1,290,500 shares of the luxury accessories retailer's stock worth $84,308,000 after purchasing an additional 96,489 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Up 0.6%

Shares of NYSE TPR traded up $0.65 during midday trading on Monday, hitting $104.83. The company's stock had a trading volume of 3,146,736 shares, compared to its average volume of 4,907,031. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The business's 50 day moving average is $102.15 and its two-hundred day moving average is $84.81. Tapestry, Inc. has a 12-month low of $40.24 and a 12-month high of $114.05. The firm has a market cap of $21.82 billion, a P/E ratio of 166.39, a price-to-earnings-growth ratio of 2.63 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last announced 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. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 EPS 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 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 yield of 1.5%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is 253.97%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Argus increased their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. lifted their price objective on Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, UBS Group lowered their target price 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's stock. According to data from MarketBeat.com, the stock has an average 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.