Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in Tapestry, Inc. $TPR

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 504,673 shares of the luxury accessories retailer’s stock, valued at approximately $73,874,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPR. OneDigital Investment Advisors LLC acquired a new stake in Tapestry in the 2nd quarter valued at about $1,035,000. Plato Investment Management Ltd bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $3,467,000. Simplicity Wealth LLC bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $5,382,000. HBK Sorce Advisory LLC acquired a new stake in Tapestry during the second quarter valued at approximately $288,000. Finally, Nippon Life Global Investors Americas Inc. acquired a new stake in Tapestry during the second quarter valued at approximately $12,570,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TPR shares. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. increased their price objective on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Morgan Stanley reduced their price objective on Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. Wall Street Zen cut Tapestry from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Telsey Advisory Group boosted their target price on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Tapestry Stock Performance

Shares of TPR opened at $131.51 on Thursday. The company has a 50-day moving average of $145.78 and a two-hundred day moving average of $144.84. The stock has a market cap of $26.22 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 1.67 and a beta of 1.43. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion for 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%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities research 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 dividend of $0.4625 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is presently 21.95%.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on 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 owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is currently owned by company 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.