Tapestry, Inc. $TPR Shares Purchased by Czech National Bank

Key Points

• The Czech National Bank increased its holdings in Tapestry, Inc. by 6.8%, now owning 50,781 shares worth approximately $4.46 million.
• Analysts have set a consensus price target of $106.47 for Tapestry, with the stock rated as a "Moderate Buy."
• Tapestry recently declared a quarterly dividend of $0.40 per share, up from $0.35, representing an annualized yield of 1.4%.

Czech National Bank increased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 6.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,781 shares of the luxury accessories retailer's stock after purchasing an additional 3,233 shares during the period. Czech National Bank's holdings in Tapestry were worth $4,459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TPR. WT Asset Management Ltd raised its position in shares of Tapestry by 140.6% during the 1st quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer's stock worth $110,870,000 after purchasing an additional 920,087 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tapestry during the 1st quarter worth about $59,133,000. AQR Capital Management LLC raised its position in shares of Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer's stock worth $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Samlyn Capital LLC raised its position in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer's stock worth $138,865,000 after purchasing an additional 658,889 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Tapestry by 8,158.1% during the 1st quarter. GAMMA Investing LLC now owns 622,988 shares of the luxury accessories retailer's stock worth $43,865,000 after purchasing an additional 615,444 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Sunday, September 14th. Barclays upped their price objective on shares of Tapestry from $111.00 to $127.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. TD Cowen raised shares of Tapestry from a "hold" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Thursday, June 12th. Wells Fargo & Company upped their price objective on shares of Tapestry from $100.00 to $120.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $115.00 price objective (up previously from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.47.

Tapestry Stock Up 0.8%

Shares of NYSE TPR traded up $0.95 during mid-day trading on Friday, reaching $114.25. The company had a trading volume of 5,658,328 shares, compared to its average volume of 3,797,537. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The firm has a 50 day simple moving average of $105.48 and a two-hundred day simple moving average of $86.51. The stock has a market cap of $23.78 billion, a P/E ratio of 181.35, a PEG ratio of 2.75 and a beta of 1.52. Tapestry, Inc. has a 52-week low of $42.06 and a 52-week high of $115.35.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm posted $0.92 EPS. The company's revenue was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 22nd. Shareholders of record on Friday, September 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 5th. This is an increase from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is 253.97%.

Insider Buying and Selling at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president owned 21,098 shares of the company's stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.18% of the company's stock.

Tapestry Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.