Livforsakringsbolaget Skandia Omsesidigt Acquires 39,950 Shares of Tapestry, Inc. $TPR

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Tapestry, Inc. by 181.6% during Q2, acquiring an additional 39,950 shares to bring its total holdings to 61,950 shares valued at approximately $5.44 million.
• Tapestry reported a Q1 earnings per share of $1.04, exceeding expectations, with quarterly revenue climbing 8.3% year-over-year to $1.72 billion.
• The company plans to pay a boosted quarterly dividend of $0.40 on September 22nd, up from the previous $0.35, translating to an annual yield of 1.5%.

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 181.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,950 shares of the luxury accessories retailer's stock after purchasing an additional 39,950 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Tapestry were worth $5,440,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Tapestry during the 1st quarter valued at about $1,708,000. Curat Global LLC acquired a new stake in shares of Tapestry in the 1st quarter valued at about $382,000. Nisa Investment Advisors LLC grew its stake in shares of Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer's stock valued at $4,460,000 after buying an additional 9,049 shares during the period. Jump Financial LLC grew its stake in shares of Tapestry by 1,025.9% in the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer's stock valued at $5,612,000 after buying an additional 72,623 shares during the period. Finally, Allworth Financial LP grew its stake in shares of Tapestry by 689.0% in the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer's stock valued at $913,000 after buying an additional 11,679 shares during the period. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Up 3.3%

NYSE:TPR opened at $109.97 on Tuesday. The company has a market cap of $22.89 billion, a P/E ratio of 174.56, a P/E/G ratio of 2.57 and a beta of 1.52. The stock's fifty day moving average price is $104.21 and its two-hundred day moving average price is $85.71. Tapestry, Inc. has a 1 year low of $42.06 and a 1 year high of $114.05. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31.

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

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be paid a $0.40 dividend. This is a boost from Tapestry's previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 5th. Tapestry's payout ratio is currently 253.97%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. TD Cowen upgraded Tapestry from a "hold" rating to a "buy" rating and set a $100.00 target price for the company in a research note on Thursday, June 12th. Telsey Advisory Group restated an "outperform" rating and issued a $125.00 target price on shares of Tapestry in a research note on Thursday, September 11th. Cowen restated a "buy" rating on shares of Tapestry in a research note on Thursday, August 7th. Morgan Stanley restated an "overweight" rating on shares of Tapestry in a research note on Thursday. Finally, Evercore ISI reduced their target price on Tapestry from $130.00 to $125.00 and set an "outperform" rating for the company in a research note on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $106.47.

About Tapestry

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.

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