Nykredit A S Makes New Investment in Tapestry, Inc. $TPR

Key Points

• Nykredit A/S purchased 82,027 Tapestry shares during the second quarter, valued at approximately $12 million. Institutional investors and hedge funds collectively own 90.77% of the company.
• Tapestry reported quarterly earnings of $1.32 per share, exceeding estimates, while revenue rose 8.9% year over year to $1.88 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $175.12.
• The company increased its quarterly dividend to $0.4625 per share, or $1.85 annually, representing a 1.6% yield and a 25.38% payout ratio.

Nykredit A S purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 82,027 shares of the luxury accessories retailer's stock, valued at approximately $12,007,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in Tapestry during the second quarter valued at $2,610,995,000. Geode Capital Management LLC grew its position in shares of Tapestry by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock valued at $753,482,000 after purchasing an additional 203,764 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Tapestry during the 2nd quarter worth about $771,309,000. Norges Bank bought a new position in shares of Tapestry during the 4th quarter worth about $345,349,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tapestry by 53.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,169,602 shares of the luxury accessories retailer's stock valued at $317,586,000 after acquiring an additional 758,915 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TPR shares. BTIG Research decreased their target price on Tapestry from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Wall Street Zen downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Morgan Stanley lowered their price target on Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Tapestry from $205.00 to $211.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Zacks Research lowered Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $175.12.

Tapestry Trading Up 0.1%

Shares of NYSE:TPR opened at $115.14 on Monday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The business has a 50 day moving average of $135.36 and a 200-day moving average of $140.62. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The stock has a market cap of $22.96 billion, a PE ratio of 15.79, a P/E/G ratio of 1.46 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The company's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Stockholders of record on Friday, September 4th will be given a $0.4625 dividend. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, September 4th. This is a boost from Tapestry's previous quarterly dividend of $0.40. Tapestry's dividend payout ratio is presently 25.38%.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Joanne Crevoiserat sold 27,761 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the sale, the chief executive officer owned 666,149 shares of the company's stock, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Denise Kulikowsky sold 5,810 shares of Tapestry stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total value of $670,357.80. Following the completion of the transaction, the insider owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by corporate insiders.

Tapestry Company Profile

Tapestry, Inc is a global house of modern luxury accessories and lifestyle brands. Its portfolio includes Coach, known for handbags, leather goods, footwear, apparel, jewelry, watches, and fragrance; Kate Spade New York, which offers handbags, accessories, apparel, footwear, jewelry, home products, and fragrance; and Stuart Weitzman, a designer of women's luxury footwear.

The company sells its products through directly operated stores, e-commerce platforms, wholesale partners, and specialty retailers.

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