Deutsche Bank AG purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 778,328 shares of the luxury accessories retailer's stock, valued at approximately $113,932,000. Deutsche Bank AG owned 0.39% of Tapestry at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TPR. Woodline Partners LP increased its stake in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer's stock worth $1,231,000 after buying an additional 3,495 shares during the period. Acadian Asset Management LLC acquired a new stake in Tapestry in the first quarter valued at approximately $493,000. Sivia Capital Partners LLC purchased a new position in Tapestry in the second quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership purchased a new position in Tapestry in the second quarter worth approximately $6,307,000. Finally, Brown Advisory Inc. grew its holdings in Tapestry by 13.8% during the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer's stock worth $319,000 after acquiring an additional 439 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.
Tapestry Stock Down 0.6%
Shares of NYSE:TPR opened at $131.51 on Thursday. The company has a market capitalization of $26.22 billion, a PE ratio of 18.04, a P/E/G ratio of 1.67 and a beta of 1.43. 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 twelve month low of $93.00 and a twelve month high of $164.80. The firm has a 50 day simple moving average of $145.78 and a 200-day simple moving average of $144.84.
Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $1.87 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities analysts predict that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.
Tapestry Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a dividend 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 payout ratio is presently 21.95%.
Insider Buying and Selling at Tapestry
In other news, CEO Todd Kahn sold 19,557 shares of the business'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 completion of the sale, the chief executive officer directly owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.32% of the company's stock.
Analyst Ratings Changes
TPR has been the topic of a number of analyst reports. Telsey Advisory Group raised their price objective on shares of Tapestry from $160.00 to $175.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Morgan Stanley lowered their target price on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. BTIG Research dropped their target price on Tapestry from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Barclays raised their price target on Tapestry from $182.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Finally, Wells Fargo & Company decreased their price target on Tapestry from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, August 13th. Two 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. According to MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $175.12.
Read Our Latest Stock Report on TPR
Tapestry Profile
(
Free Report)
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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