Rivermont Capital Management LP Has $17.27 Million Holdings in Tapestry, Inc. $TPR

Key Points

• Rivermont Capital Management LP reduced its stake in Tapestry, Inc. by 10.8%, selling 29,742 shares and bringing their total ownership to approximately 245,341 shares valued at $17.27 million.
• Tapestry recently reported $1.04 earnings per share for the last quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 8.3%.
• The company announced an increase in its quarterly dividend from $0.35 to $0.40, reflecting an annual yield of 1.5%, with a payout ratio of 253.97%.

Rivermont Capital Management LP decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 245,341 shares of the luxury accessories retailer's stock after selling 29,742 shares during the period. Tapestry comprises approximately 7.3% of Rivermont Capital Management LP's portfolio, making the stock its 6th biggest holding. Rivermont Capital Management LP owned about 0.12% of Tapestry worth $17,274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MBB Public Markets I LLC purchased a new position in shares of Tapestry in the first quarter valued at about $307,000. Ascent Group LLC purchased a new stake in shares of Tapestry during the first quarter worth about $240,000. United Services Automobile Association bought a new stake in shares of Tapestry in the first quarter worth about $371,000. Caxton Associates LLP purchased a new position in Tapestry during the 1st quarter valued at about $3,683,000. Finally, Sciencast Management LP bought a new position in Tapestry during the 1st quarter valued at approximately $1,487,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a report on Thursday. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Argus boosted their price objective on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $125.00 target price on shares of Tapestry in a research report on Thursday. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $106.47.

Insiders Place Their Bets

In related news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Tapestry Stock Down 0.3%

Shares of NYSE TPR traded down $0.32 during trading on Friday, reaching $106.55. The company had a trading volume of 2,940,833 shares, compared to its average volume of 4,108,255. The stock has a market cap of $22.18 billion, a PE ratio of 169.13, a P/E/G ratio of 2.68 and a beta of 1.52. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The business's 50-day moving average is $103.86 and its 200 day moving average is $85.54. Tapestry, Inc. has a 12-month low of $42.06 and a 12-month high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a $0.40 dividend. This is a boost from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. Tapestry's payout ratio is presently 253.97%.

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.