Korea Investment CORP Takes $41.81 Million Position in Tapestry, Inc. $TPR

Korea Investment CORP purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 285,639 shares of the luxury accessories retailer’s stock, valued at approximately $41,812,000.

A number of other hedge funds have also modified their holdings of the business. EP Wealth Advisors LLC acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $819,000. Ieq Capital LLC acquired a new stake in Tapestry during the 2nd quarter valued at $27,366,000. Callan Family Office LLC acquired a new stake in Tapestry during the 2nd quarter valued at $727,000. C M Bidwell & Associates Ltd. purchased a new position in Tapestry during the second quarter worth $466,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Tapestry during the second quarter worth $31,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of Tapestry 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 in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’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 sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Evercore set a $175.00 target price on shares of Tapestry in a research note on Friday, May 8th. Daiwa Securities Group raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Telsey Advisory Group upped their target price on shares of Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, Wall Street Zen cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Stock Up 0.6%

Shares of NYSE:TPR opened at $130.66 on Friday. 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 firm has a market cap of $26.05 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.65 and a beta of 1.43. The stock’s 50-day moving average price is $145.13 and its two-hundred day moving average price is $144.76. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, research analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.4%. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) 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.