Tapestry, Inc. $TPR Shares Acquired by Tenzing Global Management LLC

Key Points

• Tenzing Global Management LLC increased its stake in Tapestry, Inc. by 3.4%, now holding 75,000 shares valued at $5.28 million, making Tapestry its 12th largest position.
• Tapestry recently announced a dividend increase from $0.35 to $0.40 per share, representing a 1.5% yield based on an annualized dividend of $1.60.
• The company reported $1.04 earnings per share (EPS) for the latest quarter, exceeding expectations and showing an 8.3% revenue growth year-over-year.

Tenzing Global Management LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,000 shares of the luxury accessories retailer's stock after buying an additional 2,500 shares during the period. Tapestry comprises approximately 3.8% of Tenzing Global Management LLC's investment portfolio, making the stock its 12th biggest position. Tenzing Global Management LLC's holdings in Tapestry were worth $5,281,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TPR. Harbour Investments Inc. grew its stake in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after buying an additional 197 shares during the period. Greenline Partners LLC bought a new stake in shares of Tapestry in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tapestry in the 1st quarter worth approximately $29,000. Opal Wealth Advisors LLC purchased a new position in Tapestry in the 1st quarter valued at approximately $35,000. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of Tapestry during the 1st quarter valued at $35,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on TPR shares. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. UBS Group dropped their target price on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Evercore ISI lowered their target price on shares of Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Barclays reiterated an "overweight" rating and issued a $105.00 price target (up from $98.00) on shares of Tapestry in a report on Friday, July 11th. Finally, Morgan Stanley lifted their price target on shares of Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price of $105.47.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the business'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 transaction, the vice president directly owned 21,098 shares of the company's stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.18% of the stock is currently owned by company insiders.

Tapestry Stock Performance

NYSE TPR traded up $0.29 during mid-day trading on Tuesday, reaching $105.11. 2,857,180 shares of the stock were exchanged, compared to its average volume of 4,701,410. The business's 50 day moving average is $102.85 and its 200-day moving average is $85.09. Tapestry, Inc. has a 1 year low of $40.32 and a 1 year high of $114.05. The company has a market capitalization of $21.88 billion, a P/E ratio of 166.84, a P/E/G ratio of 2.64 and a beta of 1.52. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted $0.92 earnings per share. The company's revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS 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. The ex-dividend date is Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is presently 253.97%.

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.