Commerce Bank Makes New $15.32 Million Investment in Tapestry, Inc. $TPR

Commerce Bank acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 104,633 shares of the luxury accessories retailer’s stock, valued at approximately $15,316,000. Commerce Bank owned approximately 0.05% of Tapestry as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Woodline Partners LP boosted its stake in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new stake in Tapestry during the 1st quarter worth $493,000. Sivia Capital Partners LLC purchased a new stake in Tapestry during the 2nd quarter worth $602,000. Arrowstreet Capital Limited Partnership acquired a new position in Tapestry in the 2nd quarter worth $6,307,000. Finally, Brown Advisory Inc. lifted its holdings in Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock worth $319,000 after buying an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 0.6%

NYSE TPR opened at $130.66 on Friday. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The company’s fifty day moving average price is $145.13 and its two-hundred day moving average price is $144.76.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts predict 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. Investors of record on Friday, September 4th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s payout ratio is 21.95%.

Analyst Ratings Changes

TPR has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. BTIG Research cut their price target on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Weiss Ratings upgraded Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Robert W. Baird increased their price target on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $175.12.

Insider Activity

In related news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the sale, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Tapestry Company 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.