Evolve Private Wealth LLC Makes New $1.70 Million Investment in Tapestry, Inc. $TPR

Evolve Private Wealth LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,644 shares of the luxury accessories retailer’s stock, valued at approximately $1,704,000.

Several other institutional investors have also modified their holdings of TPR. Woodline Partners LP increased its stake in Tapestry by 25.0% during the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after buying an additional 3,495 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Tapestry in the first quarter worth approximately $493,000. Sivia Capital Partners LLC acquired a new position in Tapestry in the 2nd quarter valued at $602,000. Arrowstreet Capital Limited Partnership purchased a new position in Tapestry in the 2nd quarter valued at $6,307,000. Finally, Brown Advisory Inc. lifted its holdings in Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TPR. JPMorgan Chase & Co. raised their price target on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein restated 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. Citigroup upped their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. UBS Group increased their price target on Tapestry from $230.00 to $232.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Two equities 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 data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insiders Place Their Bets

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 value of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares of the company’s stock, valued at $88,244,758.03. The trade was a 4.00% decrease in their position. 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 transaction of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by corporate insiders.

Tapestry Trading Up 0.6%

TPR opened at $130.66 on Friday. The stock has a market capitalization of $26.05 billion, a PE ratio of 17.92, a P/E/G ratio of 1.65 and a beta of 1.43. Tapestry, Inc. has a one year low of $93.00 and a one year 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. The business’s 50 day moving average price is $145.13 and its 200 day moving average price is $144.76.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities research analysts expect 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. Shareholders of record on Friday, September 4th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. Tapestry’s dividend payout ratio is presently 21.95%.

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.