Cinctive Capital Management LP Sells 51,466 Shares of Tapestry, Inc. $TPR

Key Points

• Cinctive Capital Management LP reduced its stake in Tapestry, Inc. by 14.2%, holding 311,341 shares valued at approximately $21.9 million following the sale of 51,466 shares.
• Tapestry recently reported an earnings per share (EPS) of $1.04 for the last quarter, exceeding analysts' expectations, and set a fiscal year 2026 guidance of 5.300-5.450 EPS.
• The company announced an increase in its quarterly dividend from $0.35 to $0.40 per share, with a payout ratio of 222.22% and an annualized yield of 1.5%.

Cinctive Capital Management LP lessened its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 311,341 shares of the luxury accessories retailer's stock after selling 51,466 shares during the quarter. Tapestry comprises about 1.7% of Cinctive Capital Management LP's holdings, making the stock its 10th largest holding. Cinctive Capital Management LP owned 0.15% of Tapestry worth $21,922,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tapestry during the 1st quarter worth $1,708,000. Curat Global LLC acquired a new stake in Tapestry during the first quarter worth about $382,000. Nisa Investment Advisors LLC increased its position in Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock worth $4,460,000 after purchasing an additional 9,049 shares during the last quarter. Jump Financial LLC raised its stake in Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock worth $5,612,000 after purchasing an additional 72,623 shares during the period. Finally, Allworth Financial LP boosted its holdings in Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock valued at $913,000 after purchasing an additional 11,679 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Trading Down 1.6%

TPR traded down $1.66 during mid-day trading on Friday, hitting $104.16. 2,489,416 shares of the stock were exchanged, compared to its average volume of 4,755,136. The firm's fifty day moving average is $102.15 and its two-hundred day moving average is $84.82. Tapestry, Inc. has a 1-year low of $40.08 and a 1-year high of $114.05. The company has a market cap of $21.68 billion, a PE ratio of 165.33, a PEG ratio of 2.63 and a beta of 1.52. 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 results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given 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 1.5%. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's dividend payout ratio is currently 222.22%.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company's 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 owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TPR. Sanford C. Bernstein restated an "outperform" rating and set a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. TD Cowen raised Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Thursday, June 12th. Bank of America downgraded Tapestry from a "buy" rating to a "neutral" rating and lifted their target price for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price target (up from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Finally, Barclays restated an "overweight" rating and issued a $105.00 price objective (up from $98.00) on shares of Tapestry in a report on Friday, July 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, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus 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.