Tapestry, Inc. $TPR Shares Bought by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 14.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 67,741 shares of the luxury accessories retailer’s stock after buying an additional 8,656 shares during the period. Tidal Investments LLC’s holdings in Tapestry were worth $9,916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Tapestry by 14,151.5% in the second 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 acquiring an additional 44,853,719 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Tapestry in the second quarter valued at about $2,610,995,000. State Street Corp grew its stake in shares of Tapestry by 3.8% in the 4th quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after buying an additional 348,334 shares during the period. Schroder Investment Management Group increased its stake in Tapestry by 92.8% during 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 acquiring an additional 4,500,850 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after buying an additional 203,764 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne Crevoiserat sold 27,761 shares of the firm’s stock in a transaction on 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 in the company, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. 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. Also, insider Denise Kulikowsky sold 5,810 shares of Tapestry stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the transaction, the insider owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. BTIG Research cut their target price on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Wall Street Zen downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Telsey Advisory Group increased their price objective on Tapestry from $160.00 to $175.00 and gave the company 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 issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Trading Up 2.2%

Shares of Tapestry stock opened at $118.39 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 company’s 50-day simple moving average is $137.94 and its 200-day simple moving average is $142.10. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week high of $164.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.88 billion for 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 company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period 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. As a group, equities research analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current 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 issued a $0.4625 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.6%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s payout ratio is currently 25.38%.

About Tapestry

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women’s luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.