Groupe la Francaise Grows Stake in Tapestry, Inc. $TPR

Groupe la Francaise grew its position in Tapestry, Inc. (NYSE:TPR) by 20.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,507 shares of the luxury accessories retailer’s stock after buying an additional 15,360 shares during the quarter. Groupe la Francaise’s holdings in Tapestry were worth $13,113,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Tapestry by 14,151.5% during the 2nd quarter. California State Teachers Retirement System now owns 45,170,672 shares of the luxury accessories retailer’s stock worth $6,612,083,000 after purchasing an additional 44,853,719 shares during the last quarter. BlackRock Inc. purchased a new stake in Tapestry during the second quarter valued at approximately $2,610,995,000. Bank of America Corp DE acquired a new stake in Tapestry in the second quarter valued at approximately $771,309,000. Schroder Investment Management Group grew its holdings in Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after purchasing an additional 4,500,850 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Tapestry during the fourth quarter worth $345,349,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a 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. UBS Group boosted their target price on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Telsey Advisory Group raised their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.12.

Insiders Place Their Bets

In other news, CEO Joanne Crevoiserat sold 27,761 shares of the business’s 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Tapestry Trading Down 0.1%

Tapestry stock opened at $122.01 on Monday. The stock has a 50-day moving average price of $140.70 and a 200 day moving average price of $143.32. The company has a market capitalization of $24.33 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.42. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week 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 (EPS) 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 company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the firm posted $1.04 EPS. 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. Sell-side analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio is currently 25.38%.

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.