AlphaQuest LLC Has $1.27 Million Holdings in Tapestry, Inc. $TPR

AlphaQuest LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 34.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,455 shares of the luxury accessories retailer’s stock after acquiring an additional 3,671 shares during the quarter. AlphaQuest LLC’s holdings in Tapestry were worth $1,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC increased its stake in Tapestry by 47.4% during the 1st 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 in the last quarter. Southpoint Capital Advisors LP grew its holdings in shares of Tapestry by 25.0% during the first quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock valued at $176,025,000 after buying an additional 500,000 shares during the last quarter. Samlyn Capital LLC increased its position in shares of Tapestry by 50.2% during the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after acquiring an additional 658,889 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Tapestry by 21.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer’s stock worth $116,310,000 after acquiring an additional 288,219 shares during the last quarter. Finally, WT Asset Management Ltd lifted its position in Tapestry by 140.6% in the 1st 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 in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. BTIG Research assumed coverage on Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $125.00 price target on shares of Tapestry in a report on Thursday, September 11th. The Goldman Sachs Group raised their price objective on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $112.00 price objective on shares of Tapestry in a report on Friday, August 15th. Finally, Barclays upped their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.35.

Insiders Place Their Bets

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction dated 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 transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.32% of the company’s stock.

Tapestry Stock Down 0.2%

TPR opened at $114.71 on Friday. Tapestry, Inc. has a twelve month low of $46.77 and a twelve month high of $118.56. The company’s 50-day moving average price is $109.19 and its two-hundred day moving average price is $94.09. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 182.08, a PEG ratio of 2.76 and a beta of 1.57. 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 (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, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

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