Harel Insurance Investments & Financial Services Ltd. Boosts Position in Tapestry, Inc. $TPR

Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 51.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,491 shares of the luxury accessories retailer’s stock after purchasing an additional 848 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Tapestry were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TPR. Nuveen LLC purchased a new position in Tapestry during the 1st quarter worth approximately $59,133,000. AQR Capital Management LLC increased its holdings in shares of Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after purchasing an additional 838,057 shares in the last quarter. Samlyn Capital LLC increased its holdings in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after purchasing an additional 658,889 shares in the last quarter. Southpoint Capital Advisors LP increased its holdings in shares of Tapestry by 25.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock valued at $176,025,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Tapestry by 292.8% during the 1st quarter. Royal Bank of Canada now owns 305,590 shares of the luxury accessories retailer’s stock valued at $21,516,000 after purchasing an additional 464,113 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $109.77 on Monday. The firm has a market cap of $22.72 billion, a PE ratio of 174.23, a PEG ratio of 2.72 and a beta of 1.57. The firm has a fifty day moving average of $110.55 and a 200 day moving average of $96.19. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a one year low of $46.77 and a one year high of $118.56.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio is presently 253.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore ISI cut their target price on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, August 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. The Goldman Sachs Group lifted their target price on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Barclays lifted their target price on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $115.60.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.