Stevens Capital Partners Invests $11.44 Million in Tapestry, Inc. $TPR

Stevens Capital Partners acquired a new position in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 78,181 shares of the luxury accessories retailer’s stock, valued at approximately $11,444,000. Tapestry makes up about 2.2% of Stevens Capital Partners’ holdings, making the stock its 8th largest holding.

A number of other large investors have also recently added to or reduced their stakes in TPR. BlackRock Inc. purchased a new position in Tapestry during the 2nd quarter valued at about $2,610,995,000. State Street Corp lifted its holdings in shares of Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after purchasing an additional 348,334 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tapestry by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock valued at $753,482,000 after purchasing an additional 203,764 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Tapestry by 9.3% during the 1st quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer’s stock worth $711,467,000 after purchasing an additional 429,338 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Sanford C. Bernstein restated a “market perform” rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a research report on Friday. Zacks Research cut Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Barclays raised their price target on Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup boosted their price target on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Robert W. Baird upped their price objective on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Two 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, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Trading Up 2.5%

Shares of TPR stock opened at $132.23 on Wednesday. The firm’s 50-day simple moving average is $145.97 and its 200-day simple moving average is $144.81. 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, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80. The firm has a market cap of $26.37 billion, a P/E ratio of 18.14, a PEG ratio of 1.15 and a beta of 1.43.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) 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 firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm earned $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, equities analysts forecast that Tapestry, Inc. will post 7.96 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be issued a $0.4625 dividend. This is a boost from Tapestry’s previous quarterly dividend of $0.40. 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%. Tapestry’s dividend payout ratio (DPR) is 21.95%.

Insider Activity

In other news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction 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 $17,258,585.16. The trade was a 13.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.32% of the stock is owned by corporate insiders.

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.