19,598 Shares in Tapestry, Inc. $TPR Acquired by Foster & Motley Inc.

Key Points

• Foster & Motley acquired 19,598 shares of Tapestry worth approximately $2.87 million, while institutional investors and hedge funds collectively own 90.77% of the stock.
• Analysts maintain a favorable outlook, with Tapestry receiving a consensus “Moderate Buy” rating and an average price target of $175.12.
• Tapestry exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend from $0.40 to $0.4625 per share, representing an annualized yield of about 1.4%.

Foster & Motley Inc. bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,598 shares of the luxury accessories retailer's stock, valued at approximately $2,869,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in Tapestry in the second quarter valued at about $2,610,995,000. State Street Corp increased its stake in shares of Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer's stock valued at $1,223,795,000 after buying an additional 348,334 shares during the period. Schroder Investment Management Group raised its holdings in Tapestry by 92.8% in 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 buying an additional 4,500,850 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tapestry by 3.6% in the 4th 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 boosted its position in Tapestry by 9.3% during the 1st quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer's stock worth $711,467,000 after buying an additional 429,338 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TPR. Morgan Stanley lowered their price objective on Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a research report on Friday. Raymond James Financial reaffirmed an "outperform" rating and set a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Zacks Research downgraded Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Telsey Advisory Group raised their price target 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. Finally, JPMorgan Chase & Co. increased their target price on Tapestry from $205.00 to $211.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $175.12.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.32% of the stock is owned by insiders.

Tapestry Stock Up 2.5%

Shares of NYSE TPR opened at $132.23 on Wednesday. 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, Inc. has a 12 month low of $93.00 and a 12 month high of $164.80. The firm has a fifty day simple moving average of $145.97 and a two-hundred day simple moving average of $144.81. The firm has a market capitalization of $26.37 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data 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. 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 analysts' expectations of $1.87 billion. During the same period in the previous year, the firm posted $1.04 EPS. The business's revenue was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Equities analysts expect that Tapestry, Inc. will post 7.96 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a yield of 1.4%. Tapestry's dividend 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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