AlphaQuest LLC Purchases 3,671 Shares of Tapestry, Inc. $TPR

AlphaQuest LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 34.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,455 shares of the luxury accessories retailer’s stock after buying an additional 3,671 shares during the period. AlphaQuest LLC’s holdings in Tapestry were worth $1,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Harbour Investments Inc. boosted its position in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after acquiring an additional 197 shares during the last quarter. Flaharty Asset Management LLC purchased a new stake in Tapestry in the first quarter valued at approximately $25,000. First PREMIER Bank bought a new stake in Tapestry during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Tapestry in the 1st quarter worth approximately $29,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of Tapestry in the 1st quarter worth $35,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a report on Thursday, September 11th. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Bank of America lowered Tapestry from a “buy” rating to a “neutral” rating and increased their price objective for the company from $95.00 to $115.00 in a research report on Tuesday, July 29th. JPMorgan Chase & Co. boosted their target price on Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Finally, Evercore ISI cut their target price on Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $113.35.

Tapestry Trading Down 0.2%

NYSE TPR opened at $114.71 on Friday. The firm has a market cap of $23.75 billion, a PE ratio of 182.08, a price-to-earnings-growth ratio of 2.76 and a beta of 1.57. Tapestry, Inc. has a 1-year low of $46.77 and a 1-year high of $118.56. The stock has a 50-day moving average of $109.19 and a 200-day moving average of $94.09. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s payout ratio is currently 253.97%.

Insider Transactions at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares in the company, 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 the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.32% of the company’s stock.

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.