Deutsche Bank AG Purchases New Shares in Tapestry, Inc. $TPR

Deutsche Bank AG purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 778,328 shares of the luxury accessories retailer’s stock, valued at approximately $113,932,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Eurizon Capital SGR S.p.A. purchased a new stake in Tapestry during the 4th quarter valued at approximately $8,109,000. Norges Bank purchased a new position in shares of Tapestry in the 4th quarter valued at approximately $345,349,000. SEB Asset Management AB purchased a new position in shares of Tapestry in the 1st quarter valued at approximately $59,525,000. Keystone Investors PTE Ltd. increased its holdings in shares of Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after purchasing an additional 9,303 shares during the period. Finally, North Dakota State Investment Board acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $2,417,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is owned by company insiders.

Tapestry Trading Down 0.6%

Shares of TPR stock opened at $131.51 on Thursday. The business’s fifty day moving average price is $145.78 and its 200 day moving average price is $144.84. The firm has a market capitalization of $26.22 billion, a PE ratio of 18.04, a P/E/G ratio of 1.67 and a beta of 1.43. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.Tapestry’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.4%. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is 21.95%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TPR shares. UBS Group increased their price target on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Robert W. Baird boosted their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein restated a “market perform” rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Raymond James Financial restated an “outperform” rating and issued a $165.00 target price on shares of Tapestry in a research note on Thursday, April 23rd. Finally, Daiwa Securities Group raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.12.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.