6,000 Shares in Tapestry, Inc. $TPR Bought by Investment House LLC

Investment House LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,000 shares of the luxury accessories retailer’s stock, valued at approximately $690,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Tapestry in the second quarter worth $2,610,995,000. Bank of America Corp DE bought a new position in shares of Tapestry during the second quarter worth $771,309,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tapestry by 53.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer’s stock worth $317,586,000 after purchasing an additional 758,915 shares in the last quarter. Amundi grew its holdings in shares of Tapestry by 96.0% in the 1st quarter. Amundi now owns 1,769,905 shares of the luxury accessories retailer’s stock valued at $249,751,000 after buying an additional 866,969 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Tapestry in the 2nd quarter valued at $175,291,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $110.34 on Friday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The firm’s 50 day moving average price is $119.18 and its two-hundred day moving average price is $135.61. The firm has a market cap of $22.00 billion, a P/E ratio of 15.14, a PEG ratio of 1.44 and a beta of 1.42.

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

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, September 4th. This is a boost from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is currently 25.38%.

Analysts Set New Price Targets

Several analysts recently commented on TPR shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Wells Fargo & Company reduced their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Morgan Stanley decreased their target price on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their price target on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. 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, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $171.56.

Insiders Place Their Bets

In related news, insider Denise Kulikowsky sold 5,810 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the completion of the transaction, the insider directly owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joanne Crevoiserat sold 27,761 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the transaction, the chief executive officer owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.28% of the stock is currently owned by corporate insiders.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.