Meeder Advisory Services Inc. Acquires New Position in Tapestry, Inc. $TPR

Meeder Advisory Services Inc. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,966 shares of the luxury accessories retailer’s stock, valued at approximately $727,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acumen Wealth Advisors LLC bought a new position in Tapestry during the fourth quarter valued at approximately $28,000. Triumph Capital Management acquired a new stake in Tapestry in the third quarter valued at approximately $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry in the fourth quarter worth approximately $32,000. Cornerstone Planning Group LLC increased its stake in shares of Tapestry by 2,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after purchasing an additional 272 shares during the last quarter. Finally, HM Payson & Co. increased its stake in shares of Tapestry by 125.8% during the 4th quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer’s stock worth $37,000 after purchasing an additional 161 shares during the last quarter. Hedge funds and other 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 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 completion of the sale, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.32% of the company’s stock.

Tapestry Stock Down 1.8%

TPR opened at $129.38 on Friday. The company has a market capitalization of $25.80 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.67 and a beta of 1.43. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The firm’s fifty day moving average price is $145.46 and its two-hundred day moving average price is $144.86. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company 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 year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio is 21.95%.

Analyst Ratings Changes

A number of analysts have weighed in on TPR shares. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Barclays increased their price objective on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, August 14th. JPMorgan Chase & Co. raised 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. Robert W. Baird boosted their target price on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, Citigroup upped their target price on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.12.

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.