Cookson Peirce & Co. Inc. Acquires 16,600 Shares of Tapestry, Inc. $TPR

Cookson Peirce & Co. Inc. increased its position in Tapestry, Inc. (NYSE:TPR) by 17.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,470 shares of the luxury accessories retailer’s stock after purchasing an additional 16,600 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.06% of Tapestry worth $16,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. World Investment Advisors increased its position in shares of Tapestry by 3.6% during the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after acquiring an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN boosted its position in Tapestry by 4.7% in the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock worth $222,000 after purchasing an additional 71 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Tapestry by 2.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after purchasing an additional 73 shares during the period. Eastern Bank boosted its holdings in shares of Tapestry by 24.4% in the second quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock worth $57,000 after buying an additional 77 shares during the last quarter. Finally, NewEdge Wealth LLC grew its position in Tapestry by 2.7% during the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock valued at $450,000 after buying an additional 85 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TPR. Sanford C. Bernstein reissued a “market perform” rating and issued a $185.00 price objective (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Wells Fargo & Company decreased their price target on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Weiss Ratings raised Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, UBS Group upped their price target on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the sale, the chief executive officer owned 666,149 shares of the company’s stock, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $125.75 on Friday. The business’s 50 day moving average price is $143.26 and its 200-day moving average price is $144.48. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The company has a market cap of $25.07 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.59 and a beta of 1.43. 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 issued 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 return on equity of 254.95% and a net margin of 19.09%.The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $1.04 EPS. Tapestry’s quarterly revenue 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 predict that Tapestry, Inc. will post 7.94 earnings per share 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. This is a boost from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s dividend payout ratio is 21.95%.

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.