Equitable Holdings Inc. Takes $1.23 Million Position in Tapestry, Inc. $TPR

Equitable Holdings Inc. purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 8,433 shares of the luxury accessories retailer’s stock, valued at approximately $1,234,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Cetera Trust Company N.A purchased a new stake in Tapestry during the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Tapestry in the 2nd quarter worth approximately $31,000. Acumen Wealth Advisors LLC purchased a new stake in Tapestry during the 4th quarter valued at $28,000. Virtus Advisers LLC purchased a new stake in Tapestry during the 2nd quarter valued at $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of Tapestry stock opened at $125.75 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The stock’s fifty day moving average is $143.26 and its two-hundred day moving average is $144.48. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80. The company has a market capitalization of $25.07 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

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 business had revenue of $1.88 billion during 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 business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

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

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TPR shares. Telsey Advisory Group boosted their price objective on shares of Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Wells Fargo & Company lowered their target price on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, BTIG Research reduced their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.12.

About Tapestry

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.