Broad Peak Investment Advisers Pte Ltd Buys Shares of 74,100 Tapestry, Inc. $TPR

Broad Peak Investment Advisers Pte Ltd bought a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 74,100 shares of the luxury accessories retailer’s stock, valued at approximately $6,507,000. Tapestry comprises about 2.0% of Broad Peak Investment Advisers Pte Ltd’s investment portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. WT Asset Management Ltd grew its stake 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 purchasing an additional 920,087 shares during the last quarter. Nuveen LLC purchased a new position in Tapestry in the first quarter valued at about $59,133,000. AQR Capital Management LLC grew its stake in Tapestry by 47.4% in the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Samlyn Capital LLC grew its stake in Tapestry by 50.2% in the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after purchasing an additional 658,889 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in Tapestry in the first quarter worth about $37,495,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the firm’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 transaction, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $780,712.10. Following the completion of the transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $112.00 price target on shares of Tapestry in a report on Friday, August 15th. JPMorgan Chase & Co. raised their price target on Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, UBS Group lowered their price target on 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 five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $108.42.

Tapestry Stock Performance

TPR opened at $113.99 on Tuesday. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $117.77. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $23.60 billion, a PE ratio of 180.94, a P/E/G ratio of 2.61 and a beta of 1.57. The firm has a 50 day moving average of $107.72 and a two-hundred day moving average of $91.15.

Tapestry (NYSE:TPR) last posted 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 company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $0.92 EPS. Tapestry’s revenue for the quarter was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s payout ratio is 253.97%.

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.