Andra AP fonden Buys 6,700 Shares of Tapestry, Inc. $TPR

Andra AP fonden raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 126,400 shares of the luxury accessories retailer’s stock after acquiring an additional 6,700 shares during the quarter. Andra AP fonden’s holdings in Tapestry were worth $18,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TPR. BlackRock Inc. purchased a new position in shares of Tapestry during the 2nd quarter valued at $2,610,995,000. Bank of America Corp DE bought a new stake in Tapestry in the 2nd quarter valued at about $771,309,000. Norges Bank purchased a new stake in Tapestry during the fourth quarter valued at about $345,349,000. Bank of New York Mellon Corp bought a new position in Tapestry during the second quarter worth about $175,291,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Tapestry by 169.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,770,695 shares of the luxury accessories retailer’s stock worth $226,242,000 after purchasing an additional 1,114,082 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the sale, the insider directly owned 21,136 shares in the company, valued at $2,438,671.68. This represents a 21.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value 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 $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Tapestry Price Performance

TPR stock traded down $1.65 during mid-day trading on Tuesday, hitting $111.42. 1,337,891 shares of the stock were exchanged, compared to its average volume of 2,576,290. 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 stock has a market capitalization of $22.22 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 1.46 and a beta of 1.42. The business has a fifty day moving average price of $134.90 and a 200 day moving average price of $140.33. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’s 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. On average, sell-side analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were paid a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, September 4th. Tapestry’s payout ratio is 25.38%.

Analyst Ratings Changes

A number of analysts recently commented on TPR shares. Zacks Research cut shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. UBS Group restated a “buy” rating on shares of Tapestry in a research report on Tuesday, September 8th. Telsey Advisory Group boosted their price objective on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Barclays raised their target price on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Finally, BTIG Research decreased their price target 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 investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $175.12.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women’s luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.