OMERS ADMINISTRATION Corp Acquires Shares of 28,191 Tapestry, Inc. $TPR

OMERS ADMINISTRATION Corp acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,191 shares of the luxury accessories retailer’s stock, valued at approximately $4,127,000.

Other institutional investors also recently modified their holdings of the company. Keating Financial Advisory Services Inc. purchased a new position in Tapestry during the 2nd quarter valued at about $31,000. Acumen Wealth Advisors LLC purchased a new stake in Tapestry in the 4th quarter worth approximately $28,000. Virtus Advisers LLC purchased a new stake in Tapestry in the 2nd quarter worth approximately $32,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry in the 4th quarter worth approximately $32,000. Finally, Triumph Capital Management bought a new stake in shares of Tapestry in the 3rd quarter worth approximately $29,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Robert W. Baird upped their target price on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Morgan Stanley decreased their price objective on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a report on Friday, August 14th. Zacks Research cut shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Evercore set a $175.00 target price 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Trading Down 1.6%

TPR opened at $130.08 on Wednesday. The stock has a market cap of $25.94 billion, a PE ratio of 17.84, a PEG ratio of 1.67 and a beta of 1.43. 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 business has a 50 day moving average of $144.37 and a 200-day moving average of $144.90. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80.

Tapestry (NYSE:TPR) last issued its quarterly 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 company had revenue of $1.88 billion for 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 firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities research analysts predict that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm 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 dividend of $0.4625 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.40. 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%. Tapestry’s dividend payout ratio (DPR) is presently 21.95%.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the 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 transaction, the chief executive officer directly owned 666,149 shares in the company, valued at $88,244,758.03. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by corporate insiders.

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.