Wellington Management Group LLP Buys 115,528 Shares of Tapestry, Inc. $TPR

Key Points

• Wellington Management Group LLP increased its stake in Tapestry, Inc. by 72.8%, acquiring an additional 115,528 shares, bringing their total holdings to 274,215 shares worth approximately $19.3 million.
• Tapestry's stock has received numerous positive ratings from analysts, with target prices raised significantly, including JPMorgan Chase increasing their target from $104 to $145.
• The company reported a quarterly earnings per share (EPS) of $1.04, exceeding estimates, and announced an increase in their quarterly dividend from $0.35 to $0.40 per share.

Wellington Management Group LLP grew its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 72.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 274,215 shares of the luxury accessories retailer's stock after purchasing an additional 115,528 shares during the quarter. Wellington Management Group LLP owned about 0.13% of Tapestry worth $19,307,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TPR. Harbour Investments Inc. raised its holdings in 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. Greenline Partners LLC bought a new position in Tapestry in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in Tapestry in the 1st quarter worth $29,000. Opal Wealth Advisors LLC bought a new position in Tapestry in the 1st quarter worth $35,000. Finally, MorganRosel Wealth Management LLC bought a new position in Tapestry in the 1st quarter worth $35,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $104.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Cowen reaffirmed a "buy" rating on shares of Tapestry in a research report on Thursday, August 7th. Citigroup upped their target price on shares of Tapestry from $81.00 to $94.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $115.00 target price (up from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Finally, Argus upped their target price on shares of Tapestry from $78.00 to $92.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average target price of $105.47.

Tapestry Stock Performance

Shares of TPR stock opened at $98.6110 on Tuesday. Tapestry, Inc. has a one year low of $39.40 and a one year high of $114.05. The company's 50-day moving average is $99.01 and its 200 day moving average is $83.74. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 156.53, a price-to-earnings-growth ratio of 2.51 and a beta of 1.51. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm posted $0.92 EPS. Tapestry's revenue for the quarter was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Sell-side analysts expect 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. Investors of record on Friday, September 5th will be given a dividend of $0.40 per share. This is a positive change from Tapestry's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.6%. Tapestry's payout ratio is currently 222.22%.

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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