OMERS ADMINISTRATION Corp Invests $4.13 Million in Tapestry, Inc. $TPR

OMERS ADMINISTRATION Corp acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 28,191 shares of the luxury accessories retailer’s stock, valued at approximately $4,127,000.

A number of other large investors have also added to or reduced their stakes in TPR. Acumen Wealth Advisors LLC bought a new stake in Tapestry in the fourth quarter worth $28,000. Triumph Capital Management bought a new position in shares of Tapestry during the third quarter valued at $29,000. Keating Financial Advisory Services Inc. bought a new position in shares of Tapestry during the second quarter valued at $31,000. Virtus Advisers LLC purchased a new position in shares of Tapestry in the 2nd quarter worth about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Tapestry in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 1.6%

Shares of TPR stock opened at $130.08 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The stock has a market capitalization of $25.94 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.67 and a beta of 1.43. The firm’s 50 day moving average is $144.37 and its 200 day moving average is $144.90.

Tapestry (NYSE:TPR) last announced its earnings results 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. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Research analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a $0.4625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a yield of 1.4%. Tapestry’s payout ratio is 21.95%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPR. Barclays raised their price objective on shares of Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Robert W. Baird increased their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Finally, Wall Street Zen downgraded Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by corporate insiders.

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.