12,289 Shares in Tapestry, Inc. $TPR Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management acquired 12,289 Tapestry shares worth approximately $1.8 million, while other major institutions also increased their positions. Institutional investors collectively own 90.77% of Tapestry.
• Tapestry exceeded quarterly expectations, reporting $1.32 in earnings per share and $1.88 billion in revenue, with revenue up 8.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $175.12.
• The company raised its quarterly dividend to $0.4625 per share, or $1.85 annualized, representing a 1.4% yield. CEO Joanne C. Crevoiserat separately sold 27,761 shares under a pre-arranged Rule 10b5-1 trading plan.

Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,289 shares of the luxury accessories retailer's stock, valued at approximately $1,799,000.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Tapestry in the 2nd quarter worth about $2,610,995,000. Schroder Investment Management Group lifted its stake in Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock valued at $1,194,678,000 after acquiring an additional 4,500,850 shares during the period. Norges Bank bought a new position in Tapestry during the 4th quarter valued at about $345,349,000. Wellington Management Group LLP boosted its holdings in shares of Tapestry by 632.3% during the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer's stock valued at $302,368,000 after acquiring an additional 2,043,353 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after acquiring an additional 1,494,193 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Up 1.5%

Tapestry stock opened at $132.16 on Tuesday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The firm has a market capitalization of $26.35 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.65 and a beta of 1.43. The firm has a 50 day moving average of $144.75 and a 200 day moving average of $144.91. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. The business 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%. The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts predict that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a dividend of $0.4625 per share. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 4th. Tapestry's dividend payout ratio (DPR) is 21.95%.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the sale, the chief executive officer directly owned 666,149 shares of the company's stock, valued at $88,244,758.03. This trade represents a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TPR. UBS Group lifted their target price on shares of Tapestry from $230.00 to $232.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Sanford C. Bernstein reissued a "market perform" rating and issued a $185.00 target price (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Citigroup increased their price objective on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Zacks Research lowered shares of Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Tapestry from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $175.12.

About Tapestry

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.

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