Tapestry, Inc. $TPR Holdings Lowered by National Pension Service

National Pension Service decreased its stake in Tapestry, Inc. (NYSE:TPR) by 1.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 551,115 shares of the luxury accessories retailer’s stock after selling 10,281 shares during the quarter. National Pension Service’s holdings in Tapestry were worth $80,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new position in Tapestry during the 4th quarter worth approximately $8,109,000. Norges Bank purchased a new stake in shares of Tapestry in the fourth quarter valued at $345,349,000. Keystone Investors PTE Ltd. boosted its position in shares of Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after buying an additional 9,303 shares during the period. SEB Asset Management AB acquired a new stake in shares of Tapestry in the first quarter worth $59,525,000. Finally, Vega Investment Solutions purchased a new position in shares of Tapestry during the second quarter valued at $10,322,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $118.39 on Friday. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.47 and a beta of 1.42. Tapestry, Inc. has a 1 year low of $93.00 and a 1 year high of $164.80. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The business has a fifty day simple moving average of $137.94 and a 200 day simple moving average of $142.10.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts predict 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 $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is presently 25.38%.

Insider Activity at Tapestry

In related news, insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the transaction, the insider owned 21,136 shares in the company, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joanne Crevoiserat sold 27,761 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

TPR has been the topic of several recent analyst reports. Telsey Advisory Group upped their price target on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Morgan Stanley lowered their target price on Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Wells Fargo & Company reduced their price target on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Finally, Barclays raised their price target on shares of Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.12.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women’s luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.