47,947 Shares in Tapestry, Inc. $TPR Bought by Silvant Capital Management LLC

Key Points

• Silvant Capital Management bought 47,947 shares of Tapestry in the second quarter, valued at approximately $7.0 million. Institutional investors collectively own 90.77% of the company.
• Tapestry reported quarterly EPS of $1.32 and revenue of $1.88 billion, exceeding analyst estimates, while revenue rose 8.9% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $175.12.
• The company increased its quarterly dividend from $0.40 to $0.4625 per share, resulting in an annualized dividend of $1.85 and a 1.4% yield. CEO Joanne C. Crevoiserat separately sold 27,761 shares under a pre-arranged trading plan.

Silvant Capital Management LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,947 shares of the luxury accessories retailer's stock, valued at approximately $7,018,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Acumen Wealth Advisors LLC bought a new position in shares of Tapestry during the 4th quarter worth about $28,000. Triumph Capital Management acquired a new stake in shares of Tapestry in the 3rd quarter valued at about $29,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry in the 4th quarter valued at about $32,000. Cornerstone Planning Group LLC increased its position in Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after buying an additional 272 shares in the last quarter. Finally, HM Payson & Co. raised its stake in Tapestry by 125.8% during the 4th quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer's stock worth $37,000 after buying an additional 161 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent research reports. Wall Street Zen lowered Tapestry from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Morgan Stanley decreased their price objective on Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a report on Friday, August 14th. Wells Fargo & Company lowered their target price on Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Daiwa Securities Group upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday. Finally, Citigroup lifted their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $175.12.

Tapestry Price Performance

Shares of NYSE TPR opened at $129.38 on Friday. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 1.67 and a beta of 1.43. 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 firm's 50-day simple moving average is $145.46 and its 200 day simple moving average is $144.86.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.04. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company'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 posted $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, research analysts anticipate that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors 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 yield of 1.4%. This is an increase from Tapestry's previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 4th. Tapestry's dividend payout ratio is currently 21.95%.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the 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 directly owned 666,149 shares of the company's stock, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.32% of the company's stock.

Tapestry 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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