Nykredit A S Makes New $13.05 Million Investment in Tapestry, Inc. $TPR

Nykredit A S acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 89,133 shares of the luxury accessories retailer’s stock, valued at approximately $13,047,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Trust Company N.A bought a new stake in shares of Tapestry during the second quarter valued at approximately $26,000. Acumen Wealth Advisors LLC purchased a new position in Tapestry during the fourth quarter valued at $28,000. Triumph Capital Management purchased a new position in Tapestry during the third quarter valued at $29,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Tapestry during the 2nd quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 0.5%

Shares of Tapestry stock opened at $122.01 on Friday. The company has a 50-day simple moving average of $140.70 and a two-hundred day simple moving average of $143.39. The stock has a market capitalization of $24.33 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.42. 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 announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, September 4th. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is currently 21.95%.

Analyst Ratings Changes

Several research analysts recently issued reports on TPR shares. Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. Wells Fargo & Company dropped their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein reiterated a “market perform” rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a report on Friday, August 14th. Finally, Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Activity

In related news, CEO Joanne Crevoiserat sold 27,761 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

About Tapestry

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.