4,966 Shares in Tapestry, Inc. $TPR Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,966 shares of the luxury accessories retailer’s stock, valued at approximately $727,000.

Other large investors have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. acquired a new position in shares of Tapestry during the 4th quarter worth about $8,109,000. Norges Bank acquired a new stake in shares of Tapestry in the fourth quarter valued at about $345,349,000. SEB Asset Management AB acquired a new stake in shares of Tapestry in the first quarter valued at about $59,525,000. Keystone Investors PTE Ltd. raised its holdings in Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after acquiring an additional 9,303 shares in the last quarter. Finally, North Dakota State Investment Board bought a new stake in Tapestry during the fourth quarter worth about $2,417,000. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction dated 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 in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry 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 approximately $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Tapestry Stock Down 1.8%

TPR opened at $129.38 on Friday. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The company has a market capitalization of $25.80 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.67 and a beta of 1.43. The stock has a fifty day moving average of $145.46 and a 200-day moving average of $144.86. 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 (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company earned $1.04 EPS. The company’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, equities analysts expect that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a $0.4625 dividend. 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. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is currently 21.95%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TPR. Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company cut their price objective on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Telsey Advisory Group raised their target price on shares of Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. BTIG Research lowered their target price on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, UBS Group upped their price target on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Two equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.