72,168 Shares in Tapestry, Inc. $TPR Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the second quarter, HoldingsChannel reports. The firm purchased 72,168 shares of the luxury accessories retailer’s stock, valued at approximately $10,564,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new stake in Tapestry during the fourth quarter worth $8,109,000. Norges Bank bought a new position in Tapestry in the fourth quarter valued at about $345,349,000. Keystone Investors PTE Ltd. boosted its position in Tapestry by 17.4% during the 4th 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 position in shares of Tapestry during the first quarter worth $59,525,000. Finally, North Dakota State Investment Board acquired a new position in Tapestry during the 4th quarter worth about $2,417,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

TPR opened at $128.44 on Tuesday. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.15 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The firm has a 50-day moving average price of $146.23 and a 200-day moving average price of $144.77.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities analysts expect that Tapestry, Inc. will post 7.88 EPS for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be issued a dividend of $0.4625 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. Tapestry’s payout ratio is currently 21.95%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TPR shares. Sanford C. Bernstein restated a “market perform” rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a research report on Friday. BTIG Research cut their price target on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird lifted their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Finally, Morgan Stanley cut their price target on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average price target of $175.12.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.