WCM Investment Management LLC Buys 26,367 Shares of Tapestry, Inc. $TPR

Key Points

• WCM Investment Management LLC increased its stake in Tapestry, Inc. by 4.9%, owning a total of 560,101 shares, worth about $48.79 million.
• Tapestry recently declared a quarterly dividend of $0.40 per share, an increase from the previous $0.35, representing an annualized yield of 1.4%.
• The company reported a $1.04 EPS for its last quarter, exceeding analyst expectations, with revenue rising 8.3% year-over-year to $1.72 billion.

WCM Investment Management LLC grew its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 560,101 shares of the luxury accessories retailer's stock after acquiring an additional 26,367 shares during the quarter. WCM Investment Management LLC owned 0.27% of Tapestry worth $48,790,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new position in shares of Tapestry during the first quarter valued at $1,708,000. Nisa Investment Advisors LLC lifted its holdings in shares of Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock valued at $4,460,000 after purchasing an additional 9,049 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Tapestry by 1,025.9% during the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock valued at $5,612,000 after purchasing an additional 72,623 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock valued at $913,000 after purchasing an additional 11,679 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Tapestry during the first quarter valued at $1,476,000. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Performance

Shares of TPR opened at $116.69 on Thursday. 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 business has a 50-day simple moving average of $107.90 and a two-hundred day simple moving average of $91.50. The stock has a market cap of $24.16 billion, a price-to-earnings ratio of 185.22, a PEG ratio of 2.80 and a beta of 1.57. Tapestry, Inc. has a 52 week low of $43.07 and a 52 week high of $118.56.

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

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a $0.40 dividend. The ex-dividend date was Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry's dividend payout ratio (DPR) is currently 253.97%.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company's stock in a transaction dated 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 $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company's stock in a transaction dated 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 sale, the director owned 8,153 shares of the company's stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Tapestry from $116.00 to $130.00 and gave the company a "buy" rating in a report on Monday, October 6th. Bank of America cut Tapestry from a "buy" rating to a "neutral" rating and upped their price objective for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. Telsey Advisory Group reiterated an "outperform" rating and set a $125.00 price objective on shares of Tapestry in a research report on Thursday, September 11th. Sanford C. Bernstein reiterated an "outperform" rating and set a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. Finally, BTIG Research began coverage on Tapestry in a research report on Tuesday. They set a "buy" rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

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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