12,968 Shares in Tapestry, Inc. $TPR Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, Holdings Channel reports. The fund bought 12,968 shares of the luxury accessories retailer’s stock, valued at approximately $1,898,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Tapestry during the second quarter valued at about $2,610,995,000. State Street Corp raised its holdings in shares of Tapestry by 3.8% during the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after acquiring an additional 348,334 shares during the period. Schroder Investment Management Group lifted its position in shares of Tapestry by 92.8% in the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after acquiring an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tapestry by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock valued at $753,482,000 after acquiring an additional 203,764 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Tapestry by 9.3% in the 1st quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer’s stock worth $711,467,000 after purchasing an additional 429,338 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $131.51 on Thursday. The business’s 50-day simple moving average is $145.78 and its 200-day simple moving average is $144.84. 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 52 week low of $93.00 and a 52 week high of $164.80. The firm has a market cap of $26.22 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.67 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion for 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%. Tapestry’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a $0.4625 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio is 21.95%.

Analyst Ratings Changes

Several brokerages have recently commented on TPR. Zacks Research cut Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday. Evercore set a $175.00 target price on Tapestry in a research note on Friday, May 8th. UBS Group upped their target price on Tapestry from $230.00 to $232.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was 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 directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.32% of the company’s stock.

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.