Railway Pension Investments Ltd Boosts Stock Position in Tapestry, Inc. $TPR

Railway Pension Investments Ltd increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 39.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,576 shares of the luxury accessories retailer’s stock after purchasing an additional 100,176 shares during the quarter. Railway Pension Investments Ltd’s holdings in Tapestry were worth $52,196,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Cetera Trust Company N.A purchased a new position in Tapestry in the second quarter valued at approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in Tapestry in the 4th quarter valued at $28,000. Triumph Capital Management acquired a new position in shares of Tapestry during the third quarter worth about $29,000. Keating Financial Advisory Services Inc. acquired a new position in Tapestry during the 2nd quarter worth approximately $31,000. Finally, Virtus Advisers LLC purchased a new position in shares of Tapestry in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 1.7%

NYSE:TPR opened at $123.33 on Tuesday. The company’s 50 day moving average is $142.75 and its 200-day moving average is $144.20. 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 12 month low of $93.00 and a 12 month high of $164.80. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.59 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 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 for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted $1.04 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current 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 issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.5%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio is presently 21.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TPR. Wall Street Zen cut Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. UBS Group boosted their target price on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Telsey Advisory Group increased their price objective on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. 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. Finally, Morgan Stanley cut their price objective on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Activity

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

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.