Dimensional Fund Advisors LP Sells 384,535 Shares of Tapestry, Inc. $TPR

Key Points

• Dimensional Fund Advisors LP reduced its stake in Tapestry, Inc. by 12.6%, selling 384,535 shares and leaving it with 2,655,589 shares valued at approximately $186.96 million.
• Tapestry recently reported earnings of $1.04 per share, exceeding analysts' expectations of $1.02 and marking an 8.3% year-over-year revenue increase.
• The company raised its quarterly dividend from $0.35 to $0.40, reflecting a positive change in its dividend policy, with a yield of 1.6%.

Dimensional Fund Advisors LP lessened its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 12.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,655,589 shares of the luxury accessories retailer's stock after selling 384,535 shares during the period. Dimensional Fund Advisors LP owned 1.28% of Tapestry worth $186,961,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Southpoint Capital Advisors LP acquired a new stake in shares of Tapestry during the 4th quarter worth about $130,660,000. Price T Rowe Associates Inc. MD raised its holdings in Tapestry by 593.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,191,904 shares of the luxury accessories retailer's stock valued at $143,198,000 after acquiring an additional 1,875,753 shares during the period. Point72 Asset Management L.P. bought a new position in Tapestry in the 4th quarter valued at about $101,433,000. Candlestick Capital Management LP acquired a new stake in Tapestry during the fourth quarter worth approximately $66,902,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Tapestry during the fourth quarter worth approximately $65,751,000. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

TPR traded up $1.1740 on Friday, hitting $99.5640. 3,103,699 shares of the stock were exchanged, compared to its average volume of 4,928,831. The firm has a market capitalization of $20.72 billion, a price-to-earnings ratio of 158.04, a PEG ratio of 2.49 and a beta of 1.51. 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, Inc. has a 12 month low of $39.40 and a 12 month high of $114.05. The business has a 50-day moving average of $98.31 and a two-hundred day moving average of $83.35.

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 the consensus estimate of $1.02 by $0.02. The company 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%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is 253.97%.

Analysts Set New Price Targets

TPR has been the topic of a number of recent research reports. Telsey Advisory Group increased their target price on Tapestry from $92.00 to $125.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Sanford C. Bernstein reiterated an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Evercore ISI dropped their target price on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a report on Friday, August 15th. Argus upped their price target on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Bank of America lowered shares of Tapestry from a "buy" rating to a "neutral" rating and raised their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tapestry 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.