Daiichi Life Insurance Co. Ltd. Makes New Investment in Tapestry, Inc. $TPR

Daiichi Life Insurance Co. Ltd. acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,775 shares of the luxury accessories retailer's stock, valued at approximately $1,284,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acumen Wealth Advisors LLC purchased a new position in Tapestry in the fourth quarter valued at $28,000. Triumph Capital Management purchased a new stake in Tapestry during the 3rd quarter worth about $29,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Tapestry during the 2nd quarter worth about $31,000. Virtus Advisers LLC acquired a new position in shares of Tapestry during the 2nd quarter worth about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Tapestry in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Up 1.5%

TPR opened at $132.16 on Tuesday. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. 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 stock has a market capitalization of $26.35 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The business's 50-day simple moving average is $144.75 and its 200-day simple moving average is $144.91.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping 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 company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The firm's revenue was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Analysts anticipate that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry's previous quarterly dividend of $0.40. Tapestry's dividend payout ratio is presently 21.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Robert W. Baird raised their target price on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Daiwa Securities Group upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 17th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Barclays boosted their price objective on shares of Tapestry from $182.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Finally, 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 report on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $175.12.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were 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 owned 666,149 shares in the company, valued at $88,244,758.03. This represents a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

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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