waypoint wealth counsel Invests $398,000 in Tapestry, Inc. $TPR

Key Points

• Waypoint Wealth Counsel has invested $398,000 in Tapestry, Inc., acquiring 4,530 shares during the 2nd quarter.
• Tapestry reported earnings of $1.04 per share in its last quarterly results, surpassing analysts' estimates of $1.02, with a revenue increase of 8.3% year-over-year.
• The company recently announced a dividend increase to $0.40 per share, marking an annualized dividend yield of 1.5% and a dividend payout ratio of 253.97%.

waypoint wealth counsel 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 and Exchange Commission. The firm acquired 4,530 shares of the luxury accessories retailer's stock, valued at approximately $398,000.

A number of other large investors have also bought and sold shares of TPR. WT Asset Management Ltd grew its holdings in Tapestry by 140.6% in 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 purchasing an additional 920,087 shares during the period. Nuveen LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at about $59,133,000. AQR Capital Management LLC grew its stake in shares of Tapestry by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock valued at $177,405,000 after buying an additional 838,057 shares during the period. Samlyn Capital LLC grew its stake in shares of Tapestry by 50.2% in the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock valued at $138,865,000 after buying an additional 658,889 shares during the period. Finally, WCM Investment Management LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at about $37,495,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Price Performance

TPR opened at $108.35 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 171.98, a P/E/G ratio of 2.61 and a beta of 1.57. The firm's fifty day moving average price is $107.67 and its two-hundred day moving average price is $90.72. Tapestry, Inc. has a 1 year low of $43.07 and a 1 year high of $117.77.

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, 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 for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts anticipate 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. Stockholders of record on Friday, September 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, September 5th. This is a boost from Tapestry's previous quarterly dividend of $0.35. Tapestry's dividend payout ratio (DPR) is presently 253.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TPR shares. Morgan Stanley reissued an "overweight" rating on shares of Tapestry in a research note on Thursday, September 11th. Telsey Advisory Group reissued an "outperform" rating and issued a $125.00 price objective on shares of Tapestry in a research note on Thursday, September 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Tapestry in a research report on Wednesday. Wall Street Zen downgraded shares of Tapestry from a "strong-buy" rating to a "buy" rating in a research report on Monday, September 22nd. Finally, Argus lifted their price objective on shares of Tapestry from $78.00 to $92.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $108.42.

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 stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.32% of the stock is owned by insiders.

Tapestry Company 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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