Asset Management One Co. Ltd. Has $2.13 Million Position in Tapestry, Inc. $TPR

Asset Management One Co. Ltd. raised its position in Tapestry, Inc. (NYSE:TPR) by 281.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,277 shares of the luxury accessories retailer’s stock after buying an additional 17,913 shares during the period. Asset Management One Co. Ltd.’s holdings in Tapestry were worth $2,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. Harbour Investments Inc. boosted its position in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 197 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Tapestry in the first quarter valued at about $25,000. First PREMIER Bank acquired a new position in Tapestry in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Tapestry in the first quarter valued at about $29,000. Finally, Ameritas Advisory Services LLC acquired a new position in Tapestry in the second quarter valued at about $37,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Trading Down 0.2%

Shares of NYSE TPR opened at $112.87 on Thursday. 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 company has a market cap of $23.37 billion, a PE ratio of 179.16, a P/E/G ratio of 2.72 and a beta of 1.57. The company has a 50-day moving average of $110.09 and a two-hundred day moving average of $95.30. Tapestry, Inc. has a 1-year low of $46.77 and a 1-year high of $118.56.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. Tapestry’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. 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 fiscal year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Wall Street Analyst Weigh In

A number of research firms have commented on TPR. Evercore ISI reduced their price target on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Bank of America downgraded shares of Tapestry from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Finally, Robert W. Baird set a $130.00 target price on shares of Tapestry in a research note on Wednesday. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $115.60.

Insider Buying and Selling at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

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.