Tapestry, Inc. $TPR Stock Holdings Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 53.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,169,602 shares of the luxury accessories retailer’s stock after purchasing an additional 758,915 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tapestry were worth $317,586,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. World Investment Advisors boosted its holdings in Tapestry by 3.6% during the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after buying an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Tapestry by 4.7% in the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after buying an additional 71 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Tapestry by 2.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after acquiring an additional 73 shares during the last quarter. Eastern Bank boosted its stake in shares of Tapestry by 24.4% during the 2nd quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock worth $57,000 after acquiring an additional 77 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of Tapestry by 2.7% during the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock worth $450,000 after purchasing an additional 85 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 1.7%

TPR stock opened at $123.33 on Tuesday. The company has a 50 day moving average of $142.75 and a two-hundred day moving average of $144.20. The company has a market cap of $24.59 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.59 and a beta of 1.43. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. 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 (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping 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 the consensus estimate of $1.87 billion. During the same period in the prior year, the business posted $1.04 earnings per share. Tapestry’s revenue for the quarter 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, equities analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.4625 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 21.95%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TPR. Evercore set a $175.00 price target on Tapestry in a research note on Friday, May 8th. BTIG Research dropped their target price on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Wells Fargo & Company reduced their price target on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Telsey Advisory Group raised their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average price target of $175.12.

Insider Activity

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 directly owned 666,149 shares in the company, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by corporate insiders.

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.