Danske Bank A S Buys Shares of 125,900 Tapestry, Inc. $TPR

Danske Bank A S purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 125,900 shares of the luxury accessories retailer’s stock, valued at approximately $18,429,000.

Several other institutional investors have also modified their holdings of the company. Acumen Wealth Advisors LLC bought a new stake in Tapestry in the 4th quarter valued at about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Tapestry during the 4th quarter valued at about $32,000. Triumph Capital Management bought a new position in Tapestry in the 3rd quarter worth about $29,000. Cornerstone Planning Group LLC grew its position in Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after purchasing an additional 272 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at approximately $37,000. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the transaction, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Tapestry Trading Down 1.8%

Tapestry stock opened at $129.38 on Friday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The stock has a market capitalization of $25.80 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. The firm has a 50 day simple moving average of $145.46 and a 200-day simple moving average of $144.86.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be paid a $0.4625 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 21.95%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TPR. JPMorgan Chase & Co. lifted their price target on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Robert W. Baird raised their target price on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Wells Fargo & Company cut their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, Evercore set a $175.00 price target on Tapestry in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.