39,639 Shares in Tapestry, Inc. $TPR Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 39,639 shares of the luxury accessories retailer’s stock, valued at approximately $5,803,000.

Other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new stake in Tapestry during the 4th quarter worth about $8,109,000. Norges Bank bought a new position in shares of Tapestry in the 4th quarter valued at about $345,349,000. SEB Asset Management AB bought a new position in shares of Tapestry in the 1st quarter valued at about $59,525,000. Keystone Investors PTE Ltd. increased its position in shares of Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after acquiring an additional 9,303 shares during the last quarter. Finally, Vega Investment Solutions acquired a new stake in shares of Tapestry in the second quarter valued at about $10,322,000. Institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company’s stock in a transaction on 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 approximately $88,244,758.03. This represents a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $123.33 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The business’s 50 day moving average price is $142.75 and its two-hundred day moving average price is $144.20. The company has a market cap of $24.59 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.59 and a beta of 1.43. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80.

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, beating analysts’ consensus estimates of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’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, analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be paid a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s dividend payout ratio is presently 21.95%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TPR. Telsey Advisory Group increased their price target on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. UBS Group upped their price objective on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Sanford C. Bernstein reissued a “market perform” rating and issued a $185.00 price objective (up from $180.00) on shares of Tapestry in a report on Friday, August 14th. Morgan Stanley decreased their target price on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. Finally, Wells Fargo & Company lowered their target price on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Two 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.