Quantbot Technologies LP Takes $1.42 Million Position in Tapestry, Inc. $TPR

Quantbot Technologies LP acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,710 shares of the luxury accessories retailer’s stock, valued at approximately $1,421,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPR. BlackRock Inc. purchased a new position in Tapestry in the 2nd quarter worth approximately $2,610,995,000. State Street Corp boosted its stake in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after buying an additional 348,334 shares in the last quarter. Schroder Investment Management Group boosted its stake in Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC grew its position in Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock valued at $753,482,000 after acquiring an additional 203,764 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Tapestry by 9.3% during the first quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer’s stock valued at $711,467,000 after acquiring an additional 429,338 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent research reports. BTIG Research lowered their price objective on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 14th. Telsey Advisory Group lifted their target price on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Stock Performance

Tapestry stock opened at $130.08 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The firm has a 50-day moving average of $144.37 and a 200-day moving average of $144.90. The firm has a market cap of $25.94 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.67 and a beta of 1.43. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.Tapestry’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts expect that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be issued a dividend of $0.4625 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio is currently 21.95%.

Insider Buying and Selling

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 completion of the sale, the chief executive officer owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.