Tapestry, Inc. $TPR Stock Purchased by Cantor Fitzgerald Investment Advisors L.P.

Key Points

• Cantor Fitzgerald Investment Advisors increased its Tapestry position by 7,111.9% in the third quarter, adding 131,570 shares for a total holding worth approximately $15.3 million. Institutional investors and hedge funds collectively own 90.77% of Tapestry.
• Tapestry reported quarterly earnings of $1.32 per share, exceeding estimates of $1.28, while revenue rose 8.9% year over year to $1.88 billion. The company also raised its quarterly dividend to $0.4625 per share, equivalent to a 1.6% annual yield.
• Analysts maintain a generally positive view, with Tapestry carrying a consensus “Moderate Buy” rating and an average price target of $171.56, despite several recent target-price reductions.

Cantor Fitzgerald Investment Advisors L.P. raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 7,111.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,420 shares of the luxury accessories retailer's stock after purchasing an additional 131,570 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P. owned approximately 0.07% of Tapestry worth $15,349,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TPR. Raiffeisen Bank International AG boosted its position in Tapestry by 13,153.1% during the second quarter. Raiffeisen Bank International AG now owns 23,193 shares of the luxury accessories retailer's stock worth $3,399,000 after purchasing an additional 23,018 shares during the period. SEB Asset Management AB bought a new position in shares of Tapestry during the 1st quarter worth about $59,525,000. BlackRock Inc. bought a new position in shares of Tapestry during the 2nd quarter worth about $2,610,995,000. Vega Investment Solutions acquired a new position in shares of Tapestry during the second quarter valued at about $10,322,000. Finally, Nykredit A S acquired a new position in shares of Tapestry during the second quarter valued at about $12,007,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE:TPR opened at $115.09 on Thursday. The firm has a market capitalization of $22.95 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The firm has a 50-day moving average price of $119.85 and a 200 day moving average price of $135.98.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Research analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were paid a dividend of $0.4625 per share. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, September 4th. Tapestry's dividend payout ratio is currently 25.38%.

Analyst Upgrades and Downgrades

TPR has been the subject of several research reports. Raymond James Financial reduced their target price on shares of Tapestry from $165.00 to $140.00 and set an "outperform" rating for the company in a research note on Friday, October 16th. JPMorgan Chase & Co. boosted their price target on Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. UBS Group cut their price target on Tapestry from $232.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday. Wells Fargo & Company reduced their price objective on Tapestry from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings raised Tapestry from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.56.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares of the company's stock, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the sale, the insider owned 21,136 shares in the company, valued at $2,438,671.68. This represents a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is currently owned by company insiders.

Tapestry Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company's portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women's footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.

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