WINTON GROUP Ltd Has $468,000 Stock Position in Tapestry, Inc. $TPR

WINTON GROUP Ltd cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 85.9% in the 2nd quarter, Holdings Channel reports. The firm owned 3,200 shares of the luxury accessories retailer’s stock after selling 19,516 shares during the period. WINTON GROUP Ltd’s holdings in Tapestry were worth $468,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Tapestry during the 4th quarter worth $8,109,000. Norges Bank acquired a new position in Tapestry during the fourth quarter worth about $345,349,000. Keystone Investors PTE Ltd. raised its stake in Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after acquiring an additional 9,303 shares in the last quarter. SEB Asset Management AB bought a new position in shares of Tapestry in the first quarter worth about $59,525,000. Finally, Vega Investment Solutions acquired a new stake in shares of Tapestry in the 2nd quarter valued at approximately $10,322,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In related news, insider Denise Kulikowsky sold 5,810 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 21,136 shares of the company’s stock, valued at $2,438,671.68. This trade represents a 21.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joanne 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 transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TPR shares. BTIG Research decreased their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Barclays increased their price target on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, Wall Street Zen downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Stock Down 0.8%

NYSE:TPR opened at $116.92 on Wednesday. The firm’s 50 day simple moving average is $136.81 and its 200 day simple moving average is $141.49. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The company has a market cap of $23.31 billion, a PE ratio of 16.04, a P/E/G ratio of 1.49 and a beta of 1.42.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (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 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 was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be issued a $0.4625 dividend. The ex-dividend date 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 1.6%. Tapestry’s dividend payout ratio (DPR) is currently 25.38%.

About Tapestry

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.