Trexquant Investment LP Sells 32,955 Shares of Tapestry, Inc. $TPR

Key Points

• Trexquant Investment LP sold 32,955 shares of Tapestry, Inc. during the 1st quarter, reducing its holdings by 31.2%, with remaining shares valued at $5,125,000.
• Tapestry plans to increase its quarterly dividend from $0.35 to $0.40, with an ex-dividend date set for September 5th, representing a 1.6% yield.
• Several research firms have varied ratings for Tapestry, with a consensus target price of $105.47, indicating a generally positive outlook.

Trexquant Investment LP decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 31.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 72,785 shares of the luxury accessories retailer's stock after selling 32,955 shares during the period. Trexquant Investment LP's holdings in Tapestry were worth $5,125,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Harbour Investments Inc. increased its holdings in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Greenline Partners LLC acquired a new position in shares of Tapestry during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry during the 1st quarter valued at about $29,000. Opal Wealth Advisors LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $35,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $35,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Performance

Shares of TPR stock traded up $1.17 during mid-day trading on Thursday, reaching $105.60. The stock had a trading volume of 3,150,852 shares, compared to its average volume of 4,926,244. The firm's 50 day simple moving average is $101.42 and its 200 day simple moving average is $84.62. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a one year low of $40.08 and a one year high of $114.05. The firm has a market cap of $21.98 billion, a PE ratio of 167.63, a P/E/G ratio of 2.57 and a beta of 1.52.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data 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. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company earned $0.92 EPS. The company's quarterly revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio is 222.22%.

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value 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 trade represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TPR. Citigroup increased their price objective on Tapestry from $81.00 to $94.00 and gave the company a "buy" rating in a report on Friday, May 9th. Raymond James Financial restated an "outperform" rating and set a $115.00 target price (up previously from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. TD Cowen upgraded 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. UBS Group decreased their target price on Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. increased their target price on Tapestry from $104.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $105.47.

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.