Jupiter Topco LLC Invests $20.65 Million in Tapestry, Inc. $TPR

Key Points

• Jupiter Topco LLC acquired 141,100 Tapestry shares worth approximately $20.65 million during the second quarter, while institutional investors collectively owned 90.77% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $175.12; several brokerages recently raised their targets.
• Tapestry exceeded quarterly earnings and revenue expectations, reported 8.9% year-over-year revenue growth, and increased its quarterly dividend to $0.4625, or $1.85 annually.

Jupiter Topco LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 141,100 shares of the luxury accessories retailer's stock, valued at approximately $20,654,000. Jupiter Topco LLC owned approximately 0.07% of Tapestry at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TPR. Cetera Trust Company N.A purchased a new stake in Tapestry during the second quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Tapestry in the 2nd quarter valued at approximately $31,000. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry in the 4th quarter worth approximately $28,000. Virtus Advisers LLC bought a new position in shares of Tapestry during the 2nd quarter valued at approximately $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Tapestry during the 4th quarter valued at approximately $32,000. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TPR. Telsey Advisory Group raised their price target on Tapestry from $160.00 to $175.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Barclays increased their target price on shares of Tapestry from $182.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. UBS Group raised their target price on shares of Tapestry from $230.00 to $232.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Tapestry from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $175.12.

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total transaction 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 trade represents a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, 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 corporate insiders.

Tapestry Price Performance

Shares of TPR stock opened at $125.75 on Friday. The stock has a 50 day moving average price of $143.26 and a 200 day moving average price of $144.48. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week 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 firm has a market capitalization of $25.07 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.56 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.87 billion. During the same quarter last year, the firm posted $1.04 earnings per share. The business'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. As a group, sell-side analysts predict that Tapestry, Inc. will post 7.94 earnings per share for the current 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 paid a $0.4625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 annualized dividend and a yield of 1.5%. This is a boost from Tapestry's previous quarterly dividend of $0.40. Tapestry's 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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