Robeco Institutional Asset Management B.V. cut its stake in shares of Tapestry, Inc. (NYSE:TPR – Free Report) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,170,385 shares of the luxury accessories retailer’s stock after selling 17,064 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Tapestry were worth $134,641,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the stock. CWA Asset Management Group LLC grew its stake in shares of Tapestry by 6.7% in the 3rd quarter. CWA Asset Management Group LLC now owns 51,709 shares of the luxury accessories retailer’s stock worth $5,949,000 after acquiring an additional 3,251 shares in the last quarter. Secure Asset Management LLC lifted its position in shares of Tapestry by 2.5% during the third quarter. Secure Asset Management LLC now owns 4,929 shares of the luxury accessories retailer’s stock valued at $567,000 after purchasing an additional 120 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in shares of Tapestry during the third quarter valued at about $533,000. V Square Quantitative Management LLC boosted its holdings in Tapestry by 47.2% during the third quarter. V Square Quantitative Management LLC now owns 3,076 shares of the luxury accessories retailer’s stock worth $354,000 after purchasing an additional 986 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Tapestry by 254.6% during the third quarter. Assenagon Asset Management S.A. now owns 689,559 shares of the luxury accessories retailer’s stock worth $79,327,000 after purchasing an additional 495,072 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on TPR. Wells Fargo & Company reduced their price objective on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Wall Street Zen cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Weiss Ratings upgraded Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $171.56.
View Our Latest Analysis on TPR
Tapestry Trading Down 2.1%
NYSE:TPR opened at $115.09 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The stock has a market capitalization of $22.95 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. The firm’s 50 day moving average is $119.85 and its 200 day moving average is $135.98. Tapestry, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80.
Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. Tapestry had a return on equity of 254.95% and a net margin of 19.09%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $1.04 earnings per share. Tapestry’s revenue for the quarter was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.
Tapestry Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio is currently 25.38%.
Insider Activity
In related news, insider Denise Kulikowsky sold 5,810 shares of Tapestry stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $115.38, for a total value of $670,357.80. Following the completion of the sale, the insider owned 21,136 shares of the company’s stock, valued at approximately $2,438,671.68. This trade represents a 21.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne Crevoiserat sold 27,761 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer owned 666,149 shares in the company, valued at $88,244,758.03. This represents 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. Company insiders own 1.28% of the company’s stock.
Tapestry Profile
Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. The company’s portfolio includes Coach, known for handbags, leather goods, footwear, apparel and accessories; Kate Spade New York, which offers handbags, accessories, apparel, footwear, home products and related lifestyle merchandise; and Stuart Weitzman, a designer and manufacturer of women’s footwear.
Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.
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