Sciencast Management LP Invests $1.49 Million in Tapestry, Inc. $TPR

Sciencast Management LP purchased a new position in Tapestry, Inc. (NYSE:TPR) in the first quarter, Holdings Channel reports. The fund purchased 21,126 shares of the luxury accessories retailer’s stock, valued at approximately $1,487,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Investments Inc. increased its position in 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 acquiring an additional 197 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry in the 1st quarter valued at $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at $35,000. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at $35,000. Finally, MAI Capital Management boosted its stake in shares of Tapestry by 51.7% in the 1st quarter. MAI Capital Management now owns 593 shares of the luxury accessories retailer’s stock valued at $42,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating and set a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Telsey Advisory Group increased their target price on Tapestry from $92.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Bank of America cut Tapestry from a “buy” rating to a “neutral” rating and increased their target price for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Evercore ISI decreased their price target on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Finally, Barclays reaffirmed an “overweight” rating and set a $105.00 price target (up from $98.00) on shares of Tapestry in a research note on Friday, July 11th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.47.

Tapestry Trading Up 0.6%

TPR opened at $104.83 on Tuesday. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 166.39, a P/E/G ratio of 2.63 and a beta of 1.52. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a twelve month low of $40.24 and a twelve month high of $114.05. The company has a 50-day simple moving average of $102.48 and a 200 day simple moving average of $84.95.

Tapestry (NYSE:TPR) last announced its quarterly earnings data 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 firm 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 company posted $0.92 earnings per share. The business’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. Analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.5%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, September 5th. Tapestry’s payout ratio is presently 253.97%.

Tapestry Company 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.