45,036 Shares in Tapestry, Inc. $TPR Acquired by Transamerica Financial Advisors LLC

Transamerica Financial Advisors LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 45,036 shares of the luxury accessories retailer’s stock, valued at approximately $6,592,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Corient Private Wealth LP acquired a new position in shares of Tapestry during the second quarter worth $5,803,000. Ausdal Financial Partners Inc. bought a new position in Tapestry in the 2nd quarter valued at approximately $2,979,000. Bank of America Corp DE acquired a new stake in Tapestry during the 2nd quarter worth approximately $771,309,000. Strategic Global Advisors LLC bought a new stake in Tapestry during the 2nd quarter worth approximately $5,251,000. Finally, Freestone Grove Partners LP acquired a new position in Tapestry in the 2nd quarter valued at approximately $46,075,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TPR has been the subject of several analyst reports. Citigroup raised their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings raised Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. lifted their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Buying and Selling

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE TPR opened at $130.06 on Thursday. The company has a market capitalization of $25.93 billion, a PE ratio of 17.84, a P/E/G ratio of 1.65 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. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The firm has a fifty day simple moving average of $144.05 and a 200 day simple moving average of $144.81.

Tapestry (NYSE:TPR) last issued its quarterly 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 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 prior year, the firm 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. On average, sell-side analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently announced 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 dividend yield of 1.4%. The ex-dividend date is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio 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.