VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Tapestry, Inc. $TPR

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the second quarter, according to its most recent filing with the SEC. The firm purchased 48,938 shares of the luxury accessories retailer’s stock, valued at approximately $4,297,000.

A number of other large investors have also recently bought and sold shares of TPR. GAMMA Investing LLC grew its holdings in Tapestry by 17.3% during the 1st quarter. GAMMA Investing LLC now owns 8,848 shares of the luxury accessories retailer’s stock worth $623,000 after acquiring an additional 1,304 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Tapestry by 21.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 94,205 shares of the luxury accessories retailer’s stock worth $6,633,000 after acquiring an additional 16,407 shares during the period. Janney Montgomery Scott LLC grew its holdings in Tapestry by 53.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,834 shares of the luxury accessories retailer’s stock worth $552,000 after acquiring an additional 2,743 shares during the period. Asset Management One Co. Ltd. grew its holdings in Tapestry by 9.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 6,364 shares of the luxury accessories retailer’s stock worth $448,000 after acquiring an additional 545 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at about $201,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred 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 transaction, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is owned by company insiders.

Tapestry Price Performance

TPR stock opened at $116.32 on Tuesday. The company has a market capitalization of $24.08 billion, a P/E ratio of 184.63, a price-to-earnings-growth ratio of 2.82 and a beta of 1.57. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a 52-week low of $43.07 and a 52-week high of $118.56. The business has a 50-day simple moving average of $108.39 and a two-hundred day simple moving average of $92.80.

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

Tapestry Increases Dividend

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

Analysts Set New Price Targets

TPR has been the subject of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 22nd. Bank of America downgraded Tapestry from a “buy” rating to a “neutral” rating and raised their target price for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Finally, UBS Group reduced their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Eighteen equities research analysts have rated the stock with a Buy rating and five 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 a consensus target price of $110.00.

About Tapestry

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.