Man Group plc Makes New Investment in Tapestry, Inc. $TPR

Man Group plc purchased a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 285,086 shares of the luxury accessories retailer's stock, valued at approximately $41,731,000. Man Group plc owned about 0.14% of Tapestry at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Woodline Partners LP boosted its holdings in shares of Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer's stock worth $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new stake in Tapestry during the 1st quarter valued at $493,000. Sivia Capital Partners LLC purchased a new stake in Tapestry during the 2nd quarter valued at $602,000. Arrowstreet Capital Limited Partnership bought a new stake in Tapestry in the second quarter worth $6,307,000. Finally, Brown Advisory Inc. boosted its stake in Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer's stock worth $319,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TPR shares. Zacks Research downgraded shares of Tapestry from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Robert W. Baird upped their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. UBS Group raised their price objective on shares of Tapestry from $230.00 to $232.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Finally, Telsey Advisory Group upped their target price on Tapestry from $160.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.

Tapestry Stock Performance

Tapestry stock opened at $130.06 on Thursday. 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 company has a market capitalization of $25.93 billion, a PE ratio of 17.84, a P/E/G ratio of 1.65 and a beta of 1.43. The company has a 50 day moving average price of $144.05 and a 200-day moving average price of $144.81. Tapestry, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $1.87 billion. During the same period last year, the business posted $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. As a group, equities analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be given a dividend of $0.4625 per share. This is a positive change from Tapestry's previous quarterly dividend of $0.40. 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 1.4%. Tapestry's payout ratio is 21.95%.

Insider Activity 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 shares were sold at an average price of $132.47, for a total transaction of $3,677,499.67. Following the transaction, the chief executive officer directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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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