Northwestern Mutual Wealth Management Co. Purchases New Holdings in Tapestry, Inc. $TPR

Northwestern Mutual Wealth Management Co. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,289 shares of the luxury accessories retailer’s stock, valued at approximately $1,799,000.

Several other institutional investors also recently added to or reduced their stakes in TPR. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter worth approximately $28,000. Triumph Capital Management purchased a new position in shares of Tapestry in the 3rd quarter valued at $29,000. Keating Financial Advisory Services Inc. bought a new position in Tapestry in the second quarter worth about $31,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the 2nd quarter worth approximately $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Tapestry during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 1.5%

NYSE:TPR opened at $132.16 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company has a market cap of $26.35 billion, a PE ratio of 18.13, a P/E/G ratio of 1.65 and a beta of 1.43. The company’s 50 day moving average is $144.75 and its two-hundred day moving average is $144.91.

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 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 business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $1.04 earnings per share. The business’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. Analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

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

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on TPR shares. Robert W. Baird lifted their price target on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Wall Street Zen lowered Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Zacks Research cut Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Finally, BTIG Research reduced their target price on Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Two 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. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $175.12.

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.