Tapestry, Inc. $TPR Shares Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG boosted its stake in Tapestry, Inc. (NYSE:TPR) by 13,153.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,193 shares of the luxury accessories retailer’s stock after acquiring an additional 23,018 shares during the quarter. Raiffeisen Bank International AG’s holdings in Tapestry were worth $3,399,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Cetera Trust Company N.A purchased a new stake in shares of Tapestry during the second quarter valued at approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry in the fourth quarter valued at $28,000. Triumph Capital Management purchased a new position in shares of Tapestry in the third quarter valued at $29,000. Keating Financial Advisory Services Inc. acquired a new stake in Tapestry during the 2nd quarter valued at $31,000. Finally, Virtus Advisers LLC acquired a new stake in Tapestry during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the sale, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Trading Down 0.5%

TPR opened at $122.01 on Friday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The stock has a market capitalization of $24.33 billion, a PE ratio of 16.74, a P/E/G ratio of 1.55 and a beta of 1.42. The firm’s fifty day moving average price is $140.70 and its 200 day moving average price is $143.39.

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

Tapestry Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.5%. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s payout ratio is 21.95%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Wells Fargo & Company lowered their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. BTIG Research dropped their target price on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Wall Street Zen cut Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Tapestry 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.