Strategic Global Advisors LLC Buys Shares of 35,869 Tapestry, Inc. $TPR

Strategic Global Advisors LLC bought a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 35,869 shares of the luxury accessories retailer’s stock, valued at approximately $5,251,000.

Other institutional investors and hedge funds have 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 2nd quarter valued at approximately $26,000. Acumen Wealth Advisors LLC acquired a new position in Tapestry during the 4th quarter worth approximately $28,000. Triumph Capital Management acquired a new position in Tapestry during the 3rd quarter worth approximately $29,000. Keating Financial Advisory Services Inc. bought a new position in Tapestry in the 2nd quarter valued at approximately $31,000. Finally, Virtus Advisers LLC bought a new position in Tapestry in the 2nd quarter valued at approximately $32,000. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the 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 sale, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup boosted their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. BTIG Research dropped their price target on Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Evercore set a $175.00 price objective on Tapestry in a report on Friday, May 8th. UBS Group upped their target price on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Two investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $175.12.

Tapestry Stock Down 0.0%

Tapestry stock opened at $130.06 on Thursday. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 17.84, 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. The firm has a 50 day moving average price of $144.05 and a two-hundred day moving average price of $144.81.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted $1.04 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given 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 of this dividend is Friday, September 4th. Tapestry’s payout ratio is currently 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.