186,952 Shares in Tapestry, Inc. $TPR Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC purchased 186,952 Tapestry shares worth approximately $27.4 million, establishing a roughly 0.09% stake. Institutional investors collectively own 90.77% of the company.
• Tapestry reported quarterly earnings of $1.32 per share, exceeding estimates, while revenue rose 8.9% year over year to $1.88 billion. Analysts maintain a “Moderate Buy” consensus rating with a $175.12 average price target.
• The company increased its quarterly dividend to $0.4625 per share from $0.40, implying an annualized dividend of $1.85 and a yield of about 1.4%.

Ieq Capital LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 186,952 shares of the luxury accessories retailer's stock, valued at approximately $27,366,000. Ieq Capital LLC owned about 0.09% of Tapestry as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Tapestry in the 2nd quarter worth about $2,610,995,000. State Street Corp raised its holdings in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer's stock worth $1,223,795,000 after buying an additional 348,334 shares during the last quarter. Schroder Investment Management Group lifted its stake in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock worth $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock valued at $753,482,000 after buying an additional 203,764 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Tapestry by 9.3% in the 1st quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer's stock valued at $711,467,000 after acquiring an additional 429,338 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares of the company's stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the company's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares of the company's stock, valued at $88,244,758.03. This represents a 4.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. 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 report on Friday, August 14th. Wells Fargo & Company lowered their target price on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Citigroup lifted their price target 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. Wall Street Zen downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Finally, Barclays raised their target price on shares of Tapestry from $182.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.

Tapestry Trading Up 0.6%

Tapestry stock opened at $130.66 on Friday. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week high of $164.80. The company has a market cap of $26.05 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.64 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The business has a 50-day simple moving average of $145.13 and a two-hundred day simple moving average of $144.76.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for 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%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Analysts predict that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a $0.4625 dividend. The ex-dividend date is 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 yield of 1.4%. Tapestry's payout ratio is 21.95%.

Tapestry Company Profile

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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