UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $90.89 Million Stake in Tapestry, Inc. $TPR

Key Points

• UBS Asset Management reduced its stake in Tapestry, Inc. by 11.6% in Q1, resulting in ownership of approximately 1.29 million shares valued at $90.89 million.
• Institutional investors hold about 90.77% of Tapestry's stock, reflecting significant investor interest in the luxury accessories retailer.
• Tapestry recently announced an increased quarterly dividend of $0.40 per share, which is a rise from the previous $0.35 and represents an annual yield of 1.5%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC decreased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,290,851 shares of the luxury accessories retailer's stock after selling 169,259 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.62% of Tapestry worth $90,889,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Harbour Investments Inc. lifted its holdings 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 worth $25,000 after purchasing an additional 197 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Tapestry during the 1st quarter valued at $29,000. Opal Wealth Advisors LLC bought a new position in Tapestry during the 1st quarter valued at $35,000. MorganRosel Wealth Management LLC bought a new position in Tapestry during the 1st quarter valued at $35,000. Finally, MAI Capital Management raised its stake in shares of Tapestry by 51.7% during the 1st quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer's stock worth $42,000 after purchasing an additional 202 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction 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 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. 1.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Argus lifted their target price on Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. lifted their target price on Tapestry from $139.00 to $142.00 and gave the stock an "overweight" rating in a research note on Thursday. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Barclays lifted their target price on Tapestry from $111.00 to $127.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 target price on shares of Tapestry in a research note on Thursday. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $106.47.

Tapestry Stock Down 0.3%

TPR stock opened at $106.55 on Friday. 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 firm has a market capitalization of $22.18 billion, a PE ratio of 169.13, a PEG ratio of 2.68 and a beta of 1.52. Tapestry, Inc. has a twelve month low of $42.06 and a twelve month high of $114.05. The stock has a 50-day simple moving average of $103.86 and a two-hundred day simple moving average of $85.53.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio is currently 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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