Vega Investment Solutions Purchases New Shares in Tapestry, Inc. $TPR

Vega Investment Solutions acquired a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 71,186 shares of the luxury accessories retailer’s stock, valued at approximately $10,322,000. Tapestry comprises approximately 1.5% of Vega Investment Solutions’ investment portfolio, making the stock its 18th biggest holding.

Other large investors also recently made changes to their positions in the company. Cetera Trust Company N.A acquired a new stake in shares of Tapestry in the second quarter valued at $26,000. Acumen Wealth Advisors LLC acquired a new position in Tapestry during the 4th quarter worth about $28,000. Triumph Capital Management acquired a new position in Tapestry during the 3rd quarter worth about $29,000. Keating Financial Advisory Services Inc. bought a new stake in Tapestry during the 2nd quarter worth about $31,000. Finally, Virtus Advisers LLC bought a new stake in Tapestry during the 2nd quarter worth about $32,000. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, CEO Joanne C. 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 transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $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 through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TPR. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Citigroup raised their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Finally, Robert W. Baird increased their price objective on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Stock Performance

Shares of Tapestry stock opened at $132.16 on Tuesday. The firm has a fifty day moving average of $144.75 and a two-hundred day moving average of $144.91. The stock has a market capitalization of $26.35 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.65 and a beta of 1.43. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75.

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 the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $1.04 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders 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 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio (DPR) is 21.95%.

Tapestry 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.