Edmond DE Rothschild Holding S.A. Acquires Shares of 5,051 Tapestry, Inc. $TPR

Edmond DE Rothschild Holding S.A. acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,051 shares of the luxury accessories retailer’s stock, valued at approximately $739,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPR. Acumen Wealth Advisors LLC bought a new stake in Tapestry in the fourth quarter worth $28,000. Triumph Capital Management bought a new position in Tapestry during the third quarter valued at $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Tapestry during the fourth quarter valued at $32,000. Cornerstone Planning Group LLC raised its stake in shares of Tapestry by 2,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock valued at $36,000 after acquiring an additional 272 shares during the period. Finally, HM Payson & Co. lifted its holdings in shares of Tapestry by 125.8% in the 4th quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer’s stock worth $37,000 after acquiring an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TPR shares. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $185.00 price target (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Wells Fargo & Company dropped their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Zacks Research cut Tapestry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Robert W. Baird increased their price target on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average price target of $175.12.

Insider Activity

In other 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 value of $3,677,499.67. Following the completion of the sale, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by corporate insiders.

Tapestry Trading Down 1.8%

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 stock’s fifty day moving average is $145.46 and its two-hundred day moving average is $144.86. The company has a market capitalization of $25.80 billion, a P/E ratio of 17.75, a PEG ratio of 1.67 and a beta of 1.43. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80.

Tapestry (NYSE:TPR) last issued its earnings results 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 business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently disclosed 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 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s payout ratio is currently 21.95%.

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.