Trust Asset Management LLC Invests $237,000 in Tapestry, Inc. $TPR

Key Points

• Trust Asset Management LLC has invested approximately $237,000 in Tapestry, Inc., acquiring 2,702 shares of the luxury accessories retailer's stock in the second quarter.
• Several institutional investors, including WT Asset Management Ltd and AQR Capital Management LLC, have significantly increased their holdings in Tapestry, indicating strong institutional interest in the company.
• Tapestry recently raised its quarterly dividend from $0.35 to $0.40 per share, translating to an annual yield of 1.4%, despite a high dividend payout ratio of 253.97%.

Trust Asset Management LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,702 shares of the luxury accessories retailer's stock, valued at approximately $237,000.

Several other hedge funds also recently modified their holdings of TPR. WT Asset Management Ltd increased its holdings in shares of Tapestry by 140.6% during the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after buying an additional 920,087 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Tapestry during the first quarter worth approximately $59,133,000. AQR Capital Management LLC increased its holdings in shares of Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after buying an additional 838,057 shares in the last quarter. Samlyn Capital LLC increased its holdings in shares of Tapestry by 50.2% during the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock worth $138,865,000 after buying an additional 658,889 shares in the last quarter. Finally, WCM Investment Management LLC acquired a new stake in shares of Tapestry during the first quarter worth approximately $37,495,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPR. UBS Group dropped their price objective on shares of Tapestry from $112.00 to $105.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Tapestry in a report on Saturday, September 27th. Wells Fargo & Company raised their price target on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Sanford C. Bernstein reissued an "outperform" rating and issued a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Tapestry from $139.00 to $142.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Seventeen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $108.42.

Insider Transactions at Tapestry

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry 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 transaction, the vice president directly 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 disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Tapestry Stock Performance

Shares of Tapestry stock opened at $115.13 on Wednesday. The firm has a 50 day simple moving average of $107.35 and a 200 day simple moving average of $89.92. 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 fifty-two week low of $43.07 and a fifty-two week high of $117.77. The firm has a market cap of $23.83 billion, a P/E ratio of 182.75, a P/E/G ratio of 2.78 and a beta of 1.57.

Tapestry (NYSE:TPR - Get Free Report) last released 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. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The business's quarterly 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. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is presently 253.97%.

Tapestry 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.

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