Landscape Capital Management L.L.C. Buys New Shares in Tapestry, Inc. $TPR

Landscape Capital Management L.L.C. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,796 shares of the luxury accessories retailer’s stock, valued at approximately $2,751,000.

A number of other large investors also recently bought and sold shares of TPR. Acumen Wealth Advisors LLC acquired a new stake in shares of Tapestry during the 4th quarter worth $28,000. Triumph Capital Management purchased a new position in shares of Tapestry in the 3rd quarter worth $29,000. Keating Financial Advisory Services Inc. acquired a new position in Tapestry in the second quarter valued at $31,000. Virtus Advisers LLC purchased a new stake in Tapestry during the second quarter valued at about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Tapestry during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry 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 sale, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Tapestry Stock Up 0.6%

Shares of NYSE:TPR opened at $130.66 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. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week high of $164.80. The company has a 50 day moving average of $145.13 and a two-hundred day moving average of $144.76. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.64 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 company 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%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, analysts forecast that Tapestry, Inc. will post 7.94 earnings per share 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 dividend of $0.4625 per share. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry’s payout ratio is presently 21.95%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TPR shares. Barclays raised their price objective on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Telsey Advisory Group boosted their target price on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Robert W. Baird lifted their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Tapestry Company Profile

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.