VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $4.30 Million Investment in Tapestry, Inc. $TPR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 48,938 shares of the luxury accessories retailer’s stock, valued at approximately $4,297,000.

Other institutional investors have also bought and sold shares of the company. First PREMIER Bank purchased a new position in Tapestry in the second quarter valued at approximately $25,000. Flaharty Asset Management LLC purchased a new position in Tapestry in the first quarter valued at approximately $25,000. Harbour Investments Inc. lifted its stake in Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Tapestry in the first quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC purchased a new position in Tapestry in the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Raymond James Financial reissued an “outperform” rating and set a $115.00 target price (up previously from $85.00) on shares of Tapestry in a report on Tuesday, July 22nd. The Goldman Sachs Group boosted their target price on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Finally, BTIG Research started coverage on shares of Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 target price on the stock. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.00.

Tapestry Trading Down 0.4%

Tapestry stock opened at $116.32 on Tuesday. The stock has a market cap of $24.08 billion, a P/E ratio of 184.63, a PEG ratio of 2.82 and a beta of 1.57. Tapestry, Inc. has a fifty-two week low of $43.07 and a fifty-two week high of $118.56. The firm’s fifty day moving average price is $108.39 and its 200-day moving average price is $92.80. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

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 the consensus estimate of $1.02 by $0.02. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 5th. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. Tapestry’s payout ratio is currently 253.97%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction 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 transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, 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. Corporate insiders own 1.32% of the company’s stock.

Tapestry Profile

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.