Danske Bank A S Invests $18.43 Million in Tapestry, Inc. $TPR

Danske Bank A S purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 125,900 shares of the luxury accessories retailer’s stock, valued at approximately $18,429,000. Danske Bank A S owned approximately 0.06% of Tapestry at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Woodline Partners LP increased its position in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Tapestry in the first quarter valued at about $493,000. Sivia Capital Partners LLC purchased a new position in Tapestry in the second quarter valued at about $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in Tapestry during the 2nd quarter valued at approximately $6,307,000. Finally, Brown Advisory Inc. grew its stake in Tapestry by 13.8% during the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TPR shares. Robert W. Baird upped their target price on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Finally, UBS Group increased their price objective on shares of Tapestry from $230.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Transactions at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the sale, the chief executive officer owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This represents a 4.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 1.8%

NYSE:TPR opened at $129.38 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The business’s 50 day moving average is $145.46 and its two-hundred day moving average is $144.86. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80. The company has a market cap of $25.80 billion, a PE ratio of 17.75, a P/E/G ratio of 1.67 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the firm earned $1.04 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry’s payout ratio is presently 21.95%.

Tapestry Company Profile

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.