21,259 Shares in Tapestry, Inc. $TPR Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,259 shares of the luxury accessories retailer’s stock, valued at approximately $3,112,000.

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

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Tapestry Trading Down 1.6%

Shares of TPR stock opened at $130.08 on Wednesday. The business’s fifty day moving average price is $144.37 and its 200 day moving average price is $144.90. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80. The firm has a market capitalization of $25.94 billion, a PE ratio of 17.84, a P/E/G ratio of 1.67 and a beta of 1.43. 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 (NYSE:TPR) last released its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Tapestry’s revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a $0.4625 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.85 dividend on an annualized basis 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 21.95%.

Analyst Upgrades and Downgrades

TPR has been the topic of several recent research reports. Telsey Advisory Group boosted their price objective on shares of Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Robert W. Baird raised their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Zacks Research downgraded shares of Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. BTIG Research dropped their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock 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 report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Company 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.