Andra AP fonden Purchases 6,700 Shares of Tapestry, Inc. $TPR

Andra AP fonden boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,400 shares of the luxury accessories retailer’s stock after purchasing an additional 6,700 shares during the period. Andra AP fonden owned 0.06% of Tapestry worth $18,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TPR. BlackRock Inc. acquired a new stake in Tapestry in the second quarter worth about $2,610,995,000. Geode Capital Management LLC grew its holdings in Tapestry by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after acquiring an additional 203,764 shares during the period. Bank of America Corp DE bought a new stake in shares of Tapestry during the 2nd quarter valued at $771,309,000. Norges Bank acquired a new stake in shares of Tapestry during the fourth quarter worth $345,349,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tapestry by 53.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer’s stock valued at $317,586,000 after purchasing an additional 758,915 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, insider Denise Kulikowsky sold 5,810 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the sale, the insider owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. This represents a 21.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. JPMorgan Chase & Co. lifted their price objective on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Wells Fargo & Company cut their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Finally, Telsey Advisory Group boosted their price target on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Two 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Trading Down 1.5%

Shares of TPR stock traded down $1.65 during mid-day trading on Tuesday, reaching $111.42. 1,337,891 shares of the stock traded hands, compared to its average volume of 2,576,290. The stock’s fifty day simple moving average is $134.90 and its two-hundred day simple moving average is $140.33. 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 1-year low of $93.00 and a 1-year high of $164.80. The company has a market cap of $22.22 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business had revenue of $1.88 billion during 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 quarterly revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is 25.38%.

Tapestry Profile

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

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.