8,775 Shares in Tapestry, Inc. $TPR Purchased by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,775 shares of the luxury accessories retailer’s stock, valued at approximately $1,284,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tapestry during the fourth quarter worth approximately $8,109,000. Norges Bank purchased a new position in Tapestry in the 4th quarter valued at $345,349,000. Keystone Investors PTE Ltd. grew its position in Tapestry by 17.4% in the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after buying an additional 9,303 shares during the last quarter. SEB Asset Management AB acquired a new position in Tapestry in the 1st quarter valued at $59,525,000. Finally, North Dakota State Investment Board acquired a new position in Tapestry in the 4th quarter valued at $2,417,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wall Street Zen cut shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. UBS Group boosted their price target on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Zacks Research cut shares of Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Barclays lifted their price objective on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Two research analysts have 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Price Performance

Shares of NYSE TPR opened at $132.16 on Tuesday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The firm has a market capitalization of $26.35 billion, a P/E ratio of 18.13, a PEG ratio of 1.65 and a beta of 1.43. The company’s fifty day moving average is $144.75 and its two-hundred day moving average is $144.91.

Tapestry (NYSE:TPR) last announced its quarterly 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 during 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 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. Analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is currently 21.95%.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.