Tenzing Global Management LLC Increases Stock Position in Tapestry, Inc. $TPR

Tenzing Global Management LLC boosted its stake in Tapestry, Inc. (NYSE:TPR) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the luxury accessories retailer’s stock after acquiring an additional 2,500 shares during the period. Tapestry comprises approximately 3.8% of Tenzing Global Management LLC’s portfolio, making the stock its 12th largest position. Tenzing Global Management LLC’s holdings in Tapestry were worth $5,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Southpoint Capital Advisors LP purchased a new stake in Tapestry in the fourth quarter valued at $130,660,000. Point72 Asset Management L.P. purchased a new stake in Tapestry in the fourth quarter valued at $101,433,000. Point72 Hong Kong Ltd purchased a new stake in Tapestry in the fourth quarter valued at $65,751,000. WT Asset Management Ltd lifted its position in Tapestry by 140.6% in the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock valued at $110,870,000 after acquiring an additional 920,087 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Tapestry in the first quarter valued at $59,133,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Down 1.6%

Shares of Tapestry stock opened at $104.16 on Friday. Tapestry, Inc. has a 52-week low of $40.08 and a 52-week high of $114.05. 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’s 50-day simple moving average is $102.15 and its 200-day simple moving average is $84.82. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 165.33, a price-to-earnings-growth ratio of 2.63 and a beta of 1.52.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 5th. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is currently 222.22%.

Insiders Place Their Bets

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 1.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 target price (up from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. Morgan Stanley upped their target price on shares of Tapestry from $90.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Wells Fargo & Company upped their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Finally, UBS Group reduced their target price on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.47.

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.