Livforsakringsbolaget Skandia Omsesidigt Buys 42,300 Shares of Tapestry, Inc. $TPR

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 192.3% in the 2nd quarter, Holdings Channel reports. The firm owned 64,300 shares of the luxury accessories retailer’s stock after purchasing an additional 42,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Tapestry were worth $5,645,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC acquired a new stake in shares of Tapestry in the 4th quarter valued at about $245,000. Woodline Partners LP acquired a new stake in shares of Tapestry in the 4th quarter valued at about $914,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tapestry by 3.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,460,110 shares of the luxury accessories retailer’s stock valued at $95,389,000 after buying an additional 45,492 shares during the period. PharVision Advisers LLC acquired a new stake in shares of Tapestry in the 4th quarter valued at about $314,000. Finally, CSS LLC IL lifted its position in Tapestry by 47.8% in the 4th quarter. CSS LLC IL now owns 9,311 shares of the luxury accessories retailer’s stock valued at $608,000 after acquiring an additional 3,011 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TPR shares. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Sunday, September 14th. TD Cowen raised shares of Tapestry from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Thursday, June 12th. Evercore ISI dropped their target price on shares of Tapestry from $130.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. UBS Group dropped their target price on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $106.47.

Tapestry Trading Up 3.1%

NYSE:TPR opened at $113.33 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The stock has a market capitalization of $23.59 billion, a PE ratio of 179.89, a price-to-earnings-growth ratio of 2.65 and a beta of 1.52. The firm’s 50 day moving average is $105.17 and its 200 day moving average is $86.25. Tapestry, Inc. has a 12 month low of $42.06 and a 12 month high of $114.05.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the business earned $0.92 EPS. Tapestry’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be given a dividend of $0.40 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is presently 253.97%.

Insiders Place Their Bets

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is owned by insiders.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.