457,957 Shares in Tapestry, Inc. $TPR Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 457,957 shares of the luxury accessories retailer’s stock, valued at approximately $67,278,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Tapestry during the 2nd quarter worth approximately $2,610,995,000. Schroder Investment Management Group lifted its holdings in shares of Tapestry by 92.8% in the fourth 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 purchasing an additional 4,500,850 shares in the last quarter. Norges Bank purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $345,349,000. Wellington Management Group LLP boosted its position in shares of Tapestry by 632.3% during the fourth quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after buying an additional 2,043,353 shares during the last quarter. Finally, State Street Corp grew its holdings in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after buying an additional 1,494,193 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 0.0%

TPR stock opened at $130.06 on Thursday. The stock’s fifty day simple moving average is $144.05 and its two-hundred day simple moving average is $144.81. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80. The stock has a market cap of $25.93 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.65 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Analysts expect that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is currently 21.95%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Wells Fargo & Company reduced their target price on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Evercore set a $175.00 target price on shares of Tapestry in a report on Friday, May 8th. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Two equities research 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 stock. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $175.12.

Insider Transactions at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction 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. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Tapestry 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.