Canada Pension Plan Investment Board Buys New Position in Tapestry, Inc. $TPR

Canada Pension Plan Investment Board purchased a new position in Tapestry, Inc. (NYSE:TPR) in the second quarter, Holdings Channel.com reports. The fund purchased 188,600 shares of the luxury accessories retailer’s stock, valued at approximately $27,607,000.

Several other large investors have also added to or reduced their stakes in TPR. Eurizon Capital SGR S.p.A. acquired a new position in Tapestry in the 4th quarter valued at about $8,109,000. Norges Bank acquired a new stake in shares of Tapestry during the fourth quarter worth $345,349,000. Keystone Investors PTE Ltd. lifted its holdings in shares of Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after purchasing an additional 9,303 shares during the period. SEB Asset Management AB purchased a new position in Tapestry in the 1st quarter valued at $59,525,000. Finally, Vega Investment Solutions acquired a new position in Tapestry in the 2nd quarter valued at $10,322,000. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.

Analysts Set New Price Targets

A number of equities analysts have commented on TPR shares. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Telsey Advisory Group boosted their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. BTIG Research cut their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a report on Friday, August 14th. UBS Group raised their price objective on shares of Tapestry from $230.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Finally, Wall Street Zen lowered Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Price Performance

Shares of NYSE TPR opened at $125.75 on Friday. The firm has a market capitalization of $25.07 billion, a P/E ratio of 17.25, a PEG ratio of 1.56 and a beta of 1.43. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The company’s fifty day moving average is $143.26 and its two-hundred day moving average is $144.48. 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 (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 issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.5%. This is a boost 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 is 21.95%.

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.