Dorsey Wright & Associates Acquires 778 Shares of Tapestry, Inc. $TPR

Dorsey Wright & Associates raised its holdings in Tapestry, Inc. (NYSE:TPR) by 22.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,228 shares of the luxury accessories retailer’s stock after purchasing an additional 778 shares during the quarter. Dorsey Wright & Associates’ holdings in Tapestry were worth $371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Harbour Investments Inc. grew its holdings in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Tapestry during the 1st quarter worth about $25,000. First PREMIER Bank bought a new stake in Tapestry during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Tapestry in the 1st quarter valued at about $29,000. Finally, CVA Family Office LLC raised its stake in shares of Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after acquiring an additional 263 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

TPR stock opened at $103.35 on Wednesday. Tapestry, Inc. has a twelve month low of $54.98 and a twelve month high of $118.56. 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 company has a market cap of $21.15 billion, a P/E ratio of 164.04, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. The business’s fifty day moving average is $110.76 and its 200-day moving average is $99.23.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is presently 142.86%.

Tapestry announced that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently commented on TPR. Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and increased their price target for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Jefferies Financial Group upped their price objective on Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Cowen restated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, Sanford C. Bernstein raised their price target on Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by insiders.

About Tapestry

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.