Eleva Capital SAS Takes $3.07 Million Position in Tapestry, Inc. $TPR

Eleva Capital SAS acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 34,949 shares of the luxury accessories retailer’s stock, valued at approximately $3,069,000. Tapestry accounts for 0.7% of Eleva Capital SAS’s investment portfolio, making the stock its 10th largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC grew its position in shares of 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 period. Southpoint Capital Advisors LP grew its position in shares of Tapestry by 25.0% in 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 purchasing an additional 500,000 shares during the period. Samlyn Capital LLC grew its position in shares of 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 period. Goldman Sachs Group Inc. grew its position in shares of Tapestry by 21.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer’s stock valued at $116,310,000 after purchasing an additional 288,219 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of Tapestry by 45.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,357,398 shares of the luxury accessories retailer’s stock valued at $119,193,000 after buying an additional 422,259 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction 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 transaction, the director owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

NYSE:TPR opened at $109.77 on Friday. 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 $22.72 billion, a price-to-earnings ratio of 174.23, a PEG ratio of 2.72 and a beta of 1.57. The firm’s fifty day simple moving average is $110.55 and its 200 day simple moving average is $95.95. Tapestry, Inc. has a twelve month low of $46.77 and a twelve month high of $118.56.

Tapestry (NYSE:TPR) last posted its earnings results 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. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TPR. UBS Group lowered their price objective on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Robert W. Baird set a $130.00 price objective on shares of Tapestry in a research note on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and set a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Evercore ISI lowered their price objective on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research note on Friday. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.60.

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.