Machina Capital S.A.S. Acquires Shares of 6,264 Tapestry, Inc. $TPR

Machina Capital S.A.S. bought a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,264 shares of the luxury accessories retailer’s stock, valued at approximately $550,000.

A number of other hedge funds have also recently added to or reduced their stakes in TPR. Private Trust Co. NA boosted its holdings in Tapestry by 27.2% during the first quarter. Private Trust Co. NA now owns 715 shares of the luxury accessories retailer’s stock worth $50,000 after buying an additional 153 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in Tapestry during the first quarter worth $719,000. U.S. Capital Wealth Advisors LLC purchased a new stake in Tapestry during the first quarter worth $3,195,000. China Universal Asset Management Co. Ltd. purchased a new stake in Tapestry during the first quarter worth $1,708,000. Finally, Brown Advisory Inc. purchased a new stake in Tapestry during the first quarter worth $225,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of recent analyst reports. Cowen reissued a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Evercore ISI upped their price objective on shares of Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Bank of America cut shares of Tapestry from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.80.

Tapestry Price Performance

Tapestry stock opened at $106.30 on Wednesday. Tapestry, Inc. has a 52-week low of $48.25 and a 52-week high of $118.56. The firm has a market capitalization of $22.00 billion, a price-to-earnings ratio of 168.72, a PEG ratio of 2.72 and a beta of 1.57. The company has a fifty day simple moving average of $110.81 and a 200-day simple moving average of $96.79. 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 issued its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. Tapestry’s dividend payout ratio (DPR) is currently 253.97%.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated 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 sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction dated 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 sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by corporate insiders.

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.