17,064 Tapestry, Inc. $TPR Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,170,385 shares of the luxury accessories retailer's stock after selling 17,064 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.59% of Tapestry worth $134,641,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWA Asset Management Group LLC raised its position 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 boosted its position in shares of Tapestry by 2.5% during the 3rd 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 stake in shares of Tapestry during the 3rd quarter valued at about $533,000. V Square Quantitative Management LLC grew its stake 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 period. Finally, Assenagon Asset Management S.A. grew its stake 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 period. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Telsey Advisory Group boosted their price target on Tapestry from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. BTIG Research cut their price target on Tapestry from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Morgan Stanley dropped their price objective on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. Finally, Zacks Research lowered Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $171.56.

Insider Transactions at Tapestry

In related news, CEO Joanne Crevoiserat sold 27,761 shares of the company'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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of the firm's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the completion of the transaction, the insider directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.28% of the company's stock.

Tapestry Stock Performance

NYSE TPR opened at $115.09 on Thursday. The company has a fifty day simple moving average of $119.85 and a 200 day simple moving average of $135.98. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. 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 company has a market cap of $22.95 billion, a P/E ratio of 15.79, a PEG ratio of 1.49 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business posted $1.04 EPS. Tapestry's quarterly revenue 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 predict that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were given a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, September 4th. This is a boost from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. Tapestry's payout ratio is presently 25.38%.

About Tapestry

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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