WINTON GROUP Ltd Sells 19,516 Shares of Tapestry, Inc. $TPR

Key Points

• WINTON GROUP Ltd cut its Tapestry holdings by 85.9%, selling 19,516 shares and retaining 3,200 shares worth approximately $468,000. Institutional investors and hedge funds collectively own 90.77% of Tapestry.
• Tapestry exceeded quarterly expectations, reporting $1.32 in EPS and $1.88 billion in revenue, with sales up 8.9% year over year. The company also raised its quarterly dividend to $0.4625 per share, equivalent to a 1.6% yield.
• Analysts remain broadly positive, with Tapestry carrying a consensus “Moderate Buy” rating and a $175.12 average price target, despite several firms recently lowering their targets.

WINTON GROUP Ltd lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 85.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,200 shares of the luxury accessories retailer's stock after selling 19,516 shares during the quarter. WINTON GROUP Ltd's holdings in Tapestry were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TPR. Eurizon Capital SGR S.p.A. bought a new position in Tapestry during the fourth quarter worth $8,109,000. Norges Bank bought a new position in shares of Tapestry in the fourth quarter valued at about $345,349,000. Keystone Investors PTE Ltd. lifted its stake in shares of Tapestry by 17.4% during the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock worth $8,001,000 after buying an additional 9,303 shares during the last quarter. SEB Asset Management AB acquired a new stake in shares of Tapestry during the 1st quarter worth about $59,525,000. Finally, Vega Investment Solutions bought a new stake in shares of Tapestry during the 2nd quarter worth about $10,322,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

Shares of Tapestry stock opened at $116.92 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The stock has a market capitalization of $23.31 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company has a 50-day simple moving average of $136.81 and a two-hundred day simple moving average of $141.49.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.87 billion. During the same period last year, the firm earned $1.04 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. This is a boost from Tapestry's previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a yield of 1.6%. Tapestry's dividend payout ratio is 25.38%.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the completion of the transaction, the insider directly owned 21,136 shares of the company's stock, valued at approximately $2,438,671.68. This trade represents a 21.56% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TPR. Morgan Stanley decreased their price target on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. BTIG Research reduced their price objective on Tapestry from $180.00 to $175.00 and set a "buy" rating for the company in a report on Friday, August 14th. Wells Fargo & Company decreased their target price on Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Daiwa Securities Group upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. Finally, Wall Street Zen cut Tapestry from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.

Tapestry Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women's luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.

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