New York State Teachers Retirement System Increases Position in Tapestry, Inc. $TPR

New York State Teachers Retirement System increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 0.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 205,638 shares of the luxury accessories retailer’s stock after acquiring an additional 289 shares during the period. New York State Teachers Retirement System’s holdings in Tapestry were worth $18,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TPR. Ritholtz Wealth Management raised its stake in Tapestry by 187.9% during the 2nd quarter. Ritholtz Wealth Management now owns 45,009 shares of the luxury accessories retailer’s stock valued at $3,952,000 after acquiring an additional 29,376 shares during the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of Tapestry during the second quarter worth approximately $237,000. TD Asset Management Inc lifted its holdings in shares of Tapestry by 124.1% during the second quarter. TD Asset Management Inc now owns 90,655 shares of the luxury accessories retailer’s stock worth $7,960,000 after purchasing an additional 50,200 shares during the period. Broad Peak Investment Advisers Pte Ltd acquired a new stake in shares of Tapestry during the second quarter worth $6,507,000. Finally, NorthRock Partners LLC purchased a new position in Tapestry in the 2nd quarter valued at $400,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on TPR shares. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price target on shares of Tapestry in a report on Thursday, September 11th. BTIG Research began coverage on shares of Tapestry in a research report on Tuesday. They issued a “buy” rating and a $140.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $115.00 target price (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Tapestry Trading Up 0.2%

Shares of Tapestry stock opened at $116.70 on Friday. The company has a 50-day moving average of $108.22 and a two-hundred day moving average of $92.12. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $118.56. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The stock has a market cap of $24.16 billion, a PE ratio of 185.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.57.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the firm posted $0.92 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were given a $0.40 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s payout ratio is presently 253.97%.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.