TD Waterhouse Canada Inc. Boosts Stock Position in Tapestry, Inc. $TPR

TD Waterhouse Canada Inc. raised its holdings in Tapestry, Inc. (NYSE:TPR) by 9.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,832 shares of the luxury accessories retailer’s stock after buying an additional 17,776 shares during the period. TD Waterhouse Canada Inc. owned about 0.10% of Tapestry worth $29,786,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. World Investment Advisors increased its holdings in shares of Tapestry by 3.6% in the 1st quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after acquiring an additional 69 shares during the last quarter. Horizon Bancorp Inc. IN lifted its stake in Tapestry by 4.7% during the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock worth $222,000 after purchasing an additional 71 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Tapestry by 2.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after purchasing an additional 73 shares in the last quarter. Eastern Bank boosted its holdings in Tapestry by 24.4% in the second quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock valued at $57,000 after purchasing an additional 77 shares in the last quarter. Finally, NewEdge Wealth LLC increased its stake in Tapestry by 2.7% in the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock valued at $450,000 after purchasing an additional 85 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.

Tapestry Stock Down 0.5%

Shares of NYSE:TPR opened at $122.01 on Friday. The stock has a market cap of $24.33 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.55 and a beta of 1.42. The firm has a fifty day moving average price of $140.70 and a 200 day moving average price of $143.39. 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.

Tapestry (NYSE:TPR) last issued 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. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. Tapestry’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm 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 of this dividend is Friday, September 4th. 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. Tapestry’s payout ratio is 21.95%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TPR. Barclays boosted their price objective on shares of Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a research report 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. Morgan Stanley reduced their price target on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Daiwa Securities Group upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.