Railway Pension Investments Ltd Acquires 100,176 Shares of Tapestry, Inc. $TPR

Railway Pension Investments Ltd boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 39.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 356,576 shares of the luxury accessories retailer’s stock after purchasing an additional 100,176 shares during the quarter. Railway Pension Investments Ltd owned about 0.18% of Tapestry worth $52,196,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cetera Trust Company N.A purchased a new position 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 bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. bought a new position in shares of Tapestry in the second quarter worth approximately $31,000. Finally, Virtus Advisers LLC bought a new position in Tapestry in the 2nd quarter worth $32,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TPR shares. Wall Street Zen downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings raised shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Telsey Advisory Group increased their price objective on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $175.12.

Tapestry Stock Down 1.7%

NYSE:TPR opened at $123.33 on Tuesday. The company’s 50-day simple moving average is $142.75 and its 200-day simple moving average is $144.20. 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, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The stock has a market capitalization of $24.59 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.59 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. Tapestry’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently disclosed 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. 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 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio is 21.95%.

Insider Activity at Tapestry

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