Tapestry, Inc. $TPR Shares Sold by ARGA Investment Management LP

Key Points

• ARGA Investment Management LP reduced its stake in Tapestry, Inc. by 35.0% in the 2nd quarter, holding 8,044 shares valued at $706,000.
• Tapestry reported a quarterly EPS of $1.04, exceeding the consensus estimate by $0.02, alongside a revenue growth of 8.3% year-over-year.
• The company increased its quarterly dividend from $0.35 to $0.40 per share, reflecting a strong commitment to returning value to shareholders.

ARGA Investment Management LP lowered its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 35.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,044 shares of the luxury accessories retailer's stock after selling 4,332 shares during the quarter. ARGA Investment Management LP's holdings in Tapestry were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. 1858 Wealth Management LLC increased its holdings in shares of Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer's stock valued at $337,000 after buying an additional 95 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Tapestry by 27.2% during the 1st quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer's stock worth $50,000 after purchasing an additional 153 shares during the last quarter. Mather Group LLC. lifted its holdings in Tapestry by 2.8% in the 1st quarter. Mather Group LLC. now owns 6,018 shares of the luxury accessories retailer's stock worth $424,000 after purchasing an additional 165 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after acquiring an additional 197 shares during the period. Finally, MAI Capital Management grew 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. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Down 0.5%

Shares of NYSE TPR opened at $114.77 on Friday. The company has a 50 day simple moving average of $108.92 and a 200 day simple moving average of $93.48. The firm has a market cap of $23.76 billion, a PE ratio of 182.18, a price-to-earnings-growth ratio of 2.77 and a beta of 1.57. Tapestry, Inc. has a 1 year low of $43.58 and a 1 year high of $118.56. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a dividend of $0.40 per share. 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 dividend yield of 1.4%. The ex-dividend date was Friday, September 5th. Tapestry's dividend payout ratio is 253.97%.

Insider Activity

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the firm'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 sale, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.32% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TPR. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a "buy" rating in a report on Monday, October 6th. Morgan Stanley reiterated an "overweight" rating on shares of Tapestry in a report on Thursday, September 11th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $125.00 price target on shares of Tapestry in a research report on Thursday, September 11th. Finally, Wall Street Zen cut shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 22nd. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $113.35.

About Tapestry

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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