UniSuper Management Pty Ltd Sells 3,263 Shares of Tapestry, Inc. $TPR

Key Points

• UniSuper Management Pty Ltd reduced its stake in Tapestry, Inc. by 10.8%, selling 3,263 shares in the first quarter, leaving them with 26,928 shares worth approximately $1.9 million.
• Tapestry has reported earnings of $1.04 per share for the last quarter, exceeding estimates, with a year-over-year revenue increase of 8.3%.
• The company has announced a dividend increase to $0.40 per share, set to be paid on September 22nd, reflecting a 1.5% yield and a significant payout ratio of 253.97%.

UniSuper Management Pty Ltd decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,928 shares of the luxury accessories retailer's stock after selling 3,263 shares during the quarter. UniSuper Management Pty Ltd's holdings in Tapestry were worth $1,896,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TPR. Ensign Peak Advisors Inc grew its stake in shares of Tapestry by 3.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 88,840 shares of the luxury accessories retailer's stock worth $5,804,000 after acquiring an additional 3,064 shares in the last quarter. Focus Partners Wealth grew its stake in Tapestry by 33.3% in the 4th quarter. Focus Partners Wealth now owns 19,816 shares of the luxury accessories retailer's stock valued at $1,295,000 after purchasing an additional 4,952 shares during the period. Jefferies Financial Group Inc. bought a new position in Tapestry in the 4th quarter valued at $562,000. Janus Henderson Group PLC grew its stake in Tapestry by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 113,637 shares of the luxury accessories retailer's stock valued at $7,427,000 after purchasing an additional 534 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new position in Tapestry in the 4th quarter valued at $278,000. Institutional investors own 90.77% of the company's stock.

Tapestry Price Performance

TPR opened at $105.31 on Thursday. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 167.15, a PEG ratio of 2.65 and a beta of 1.52. 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 50-day moving average price of $103.22 and a 200-day moving average price of $85.23. Tapestry, Inc. has a twelve month low of $40.41 and a twelve month high of $114.05.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping 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 firm 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 earnings per share. The company's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts expect 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. Stockholders of record on Friday, September 5th will be given a $0.40 dividend. 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. The ex-dividend date is Friday, September 5th. Tapestry's dividend payout ratio (DPR) is 253.97%.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.18% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Cowen restated a "buy" rating on shares of Tapestry in a report on Thursday, August 7th. Telsey Advisory Group raised their price objective on shares of Tapestry from $92.00 to $125.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Bank of America downgraded shares of Tapestry from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. Finally, Wells Fargo & Company raised their price objective on shares of Tapestry from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $105.47.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.