Tapestry, Inc. $TPR Stock Sold by North Dakota State Investment Board

North Dakota State Investment Board lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 53.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,358 shares of the luxury accessories retailer’s stock after selling 9,507 shares during the period. North Dakota State Investment Board’s holdings in Tapestry were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in TPR. Cetera Trust Company N.A purchased a new position in shares of Tapestry in the second quarter valued at $26,000. GK Wealth Management LLC bought a new stake in shares of Tapestry during the 3rd quarter valued at $28,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Tapestry during the 2nd quarter valued at $31,000. Virtus Advisers LLC purchased a new stake in Tapestry during the 2nd quarter worth about $32,000. Finally, Elevation Wealth Partners LLC lifted its holdings in Tapestry by 336.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 297 shares of the luxury accessories retailer’s stock worth $43,000 after purchasing an additional 229 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Down 1.5%

Tapestry stock opened at $116.09 on Friday. The stock has a market cap of $23.15 billion, a P/E ratio of 15.92, a PEG ratio of 1.47 and a beta of 1.42. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The firm’s fifty day moving average price is $117.65 and its 200-day moving average price is $137.09. 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 issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities research analysts forecast that Tapestry, Inc. will post 7.97 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were paid a $0.4625 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a yield of 1.6%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio is currently 25.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TPR shares. Sanford C. Bernstein restated a “market perform” rating and issued a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. UBS Group decreased their price target on Tapestry from $232.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Barclays increased their price target on shares of Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, BTIG Research reduced their price objective on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $170.00.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction dated Wednesday, August 19th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the transaction, the insider directly owned 21,136 shares of the company’s stock, valued at $2,438,671.68. The trade was a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.28% of the stock is owned by corporate insiders.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.