Jupiter Topco LLC Makes New $20.65 Million Investment in Tapestry, Inc. $TPR

Jupiter Topco LLC bought a new position in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, Holdings Channel reports. The firm bought 141,100 shares of the luxury accessories retailer’s stock, valued at approximately $20,654,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Trust Company N.A bought a new stake in shares of Tapestry in the second quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new position in Tapestry during the 2nd quarter worth about $31,000. Acumen Wealth Advisors LLC purchased a new position in Tapestry during the 4th quarter valued at about $28,000. Virtus Advisers LLC purchased a new position in Tapestry during the 2nd quarter valued at about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry in the 4th quarter valued at about $32,000. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent research reports. Sanford C. Bernstein reiterated a “market perform” rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Wells Fargo & Company reduced their price objective 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. BTIG Research lowered their target price on Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 14th. Telsey Advisory Group increased their target price on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.12.

Tapestry Stock Up 2.0%

Shares of Tapestry stock opened at $125.75 on Friday. The firm’s 50 day moving average price is $143.26 and its 200-day moving average price is $144.48. 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 market cap of $25.07 billion, a P/E ratio of 17.25, a PEG ratio of 1.56 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 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business posted $1.04 EPS. Tapestry’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, sell-side analysts predict that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.5%. 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.