Polymer Capital Management HK LTD Purchases Shares of 41,764 Tapestry, Inc. $TPR

Polymer Capital Management HK LTD purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 41,764 shares of the luxury accessories retailer’s stock, valued at approximately $6,113,000.

Several other large investors have also recently made changes to their positions in the stock. Acumen Wealth Advisors LLC purchased a new stake in Tapestry in the fourth quarter valued at approximately $28,000. Triumph Capital Management purchased a new position in shares of Tapestry during the third quarter worth $29,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Tapestry during the second quarter worth $31,000. Virtus Advisers LLC acquired a new stake in shares of Tapestry in the second quarter valued at $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry in the fourth quarter valued at $32,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were 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 owned 666,149 shares in the company, valued at $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Tapestry Stock Performance

Shares of Tapestry stock opened at $130.66 on Monday. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. The business has a 50-day simple moving average of $145.13 and a 200-day simple moving average of $144.87. 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 company has a market cap 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 (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the business earned $1.04 EPS. The company’s revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This represents a $1.85 annualized dividend and a dividend yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s payout ratio is presently 21.95%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TPR shares. Telsey Advisory Group increased their target price on Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Sanford C. Bernstein reiterated a “market perform” rating and set a $185.00 price target (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Finally, UBS Group increased their price target on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

About Tapestry

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.