Rakuten Investment Management Inc. Invests $4.85 Million in Tapestry, Inc. $TPR

Rakuten Investment Management Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR) during the second quarter, Holdings Channel reports. The institutional investor bought 33,071 shares of the luxury accessories retailer’s stock, valued at approximately $4,847,000.

Several other institutional investors have also bought and sold shares of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tapestry in the fourth quarter valued at about $8,109,000. Norges Bank purchased a new position in Tapestry during the fourth quarter worth about $345,349,000. SEB Asset Management AB bought a new stake in Tapestry in the 1st quarter worth about $59,525,000. Keystone Investors PTE Ltd. grew its position in Tapestry by 17.4% in the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after purchasing an additional 9,303 shares in the last quarter. Finally, Vega Investment Solutions purchased a new stake in Tapestry in the 2nd quarter valued at about $10,322,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. UBS Group lifted their price target on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Barclays boosted their price objective on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Wall Street Zen lowered Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

Insider Activity at Tapestry

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

Tapestry Stock Up 2.0%

TPR opened at $125.75 on Friday. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company’s 50-day moving average price is $143.26 and its two-hundred day moving average price is $144.48. The stock has a market cap of $25.07 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.59 and a beta of 1.43. 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 issued its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) 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 analyst estimates of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. Tapestry’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be paid a $0.4625 dividend. The ex-dividend date is Friday, September 4th. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is presently 21.95%.

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.