Livforsakringsbolaget Skandia Omsesidigt Purchases New Position in Tapestry, Inc. $TPR

Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,803 shares of the luxury accessories retailer's stock, valued at approximately $10,797,000.

Several other hedge funds also recently made changes to their positions in TPR. Rakuten Investment Management Inc. acquired a new stake in shares of Tapestry during the second quarter worth about $4,847,000. Empowered Funds LLC purchased a new position in Tapestry during the 2nd quarter worth approximately $37,690,000. United Capital Financial Advisors LLC purchased a new position in Tapestry during the 2nd quarter worth approximately $1,590,000. Equitable Holdings Inc. acquired a new position in Tapestry during the second quarter worth approximately $1,234,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Tapestry in the second quarter valued at approximately $102,329,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

TPR has been the topic of a number of research reports. Zacks Research lowered shares of Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Morgan Stanley decreased their price target 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. Wells Fargo & Company lowered their price objective on shares of Tapestry from $165.00 to $160.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Tapestry from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Two research 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $175.12.

Tapestry Stock Performance

NYSE:TPR opened at $125.75 on Friday. The firm's fifty day moving average price is $143.26 and its 200 day moving average price is $144.48. Tapestry, Inc. has a 1-year low of $93.00 and a 1-year high of $164.80. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.75 and a quick ratio of 1.25. The firm has a market cap of $25.07 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.04. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. Tapestry's quarterly revenue 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, sell-side analysts expect that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be issued a $0.4625 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a yield of 1.5%. This is a boost from Tapestry's previous quarterly dividend of $0.40. Tapestry's dividend payout ratio is presently 21.95%.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the completion of the transaction, the chief executive officer directly owned 666,149 shares of the company's stock, valued at approximately $88,244,758.03. This represents a 4.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.

Tapestry 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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