Tapestry, Inc. $TPR Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its position in Tapestry, Inc. (NYSE:TPRFree Report) by 9.4% in the 2nd quarter, HoldingsChannel.com reports. The firm 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.’s holdings in Tapestry were worth $29,786,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Woodline Partners LP grew its stake in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Tapestry during the first quarter worth about $493,000. Sivia Capital Partners LLC acquired a new position in Tapestry during the second quarter worth about $602,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Tapestry in the second quarter valued at about $6,307,000. Finally, Brown Advisory Inc. lifted its holdings in shares of Tapestry by 13.8% in the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other news, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry 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 sale, the chief executive officer owned 666,149 shares of the company’s stock, valued at $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Performance

Shares of TPR opened at $122.01 on Friday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. The company has a market capitalization of $24.33 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.55 and a beta of 1.42. The company’s 50 day simple moving average is $140.70 and its 200 day simple moving average is $143.39. Tapestry, Inc. has a 1 year low of $93.00 and a 1 year high of $164.80.

Tapestry (NYSE:TPRGet Free Report) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, sell-side analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry’s payout ratio is 21.95%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TPR shares. Telsey Advisory Group raised their price objective on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Weiss Ratings upgraded Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. JPMorgan Chase & Co. raised their price target on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. UBS Group boosted their price target on Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Check Out Our Latest Report on TPR

Tapestry Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPRFree Report).

Institutional Ownership by Quarter for Tapestry (NYSE:TPR)

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