Nykredit A S Purchases Shares of 89,133 Tapestry, Inc. $TPR

Key Points

• Nykredit A/S acquired 89,133 shares of Tapestry during the second quarter, valued at approximately $13.0 million. Institutional investors collectively own 90.77% of the company.
• Tapestry reported quarterly earnings of $1.32 per share, exceeding estimates of $1.28, 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 from $0.40 to $0.4625 per share, representing an annualized dividend of $1.85 and a 1.5% yield.

Nykredit A S purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 89,133 shares of the luxury accessories retailer's stock, valued at approximately $13,047,000.

Other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Tapestry in the 2nd quarter worth $750,000. Railway Pension Investments Ltd grew its position in Tapestry by 39.1% in the second quarter. Railway Pension Investments Ltd now owns 356,576 shares of the luxury accessories retailer's stock worth $52,196,000 after acquiring an additional 100,176 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Tapestry in the second quarter worth $1,525,000. Benjamin Edwards Inc. increased its stake in Tapestry by 14.8% in the second quarter. Benjamin Edwards Inc. now owns 9,327 shares of the luxury accessories retailer's stock valued at $1,365,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its stake in Tapestry by 17.5% in the second quarter. Cookson Peirce & Co. Inc. now owns 111,470 shares of the luxury accessories retailer's stock valued at $16,317,000 after acquiring an additional 16,600 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Down 0.5%

Shares of Tapestry stock opened at $122.01 on Friday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.25 and a current ratio of 1.75. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week high of $164.80. The company's 50 day moving average price is $140.70 and its 200-day moving average price is $143.39. The stock has a market capitalization of $24.33 billion, a price-to-earnings ratio of 16.74, a P/E/G ratio of 1.55 and a beta of 1.42.

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

Tapestry Increases Dividend

The firm also recently declared 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 represents a $1.85 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Tapestry's previous quarterly dividend of $0.40. Tapestry's dividend payout ratio is currently 21.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. BTIG Research cut their price objective on Tapestry from $180.00 to $175.00 and set a "buy" rating for the company in a report on Friday, August 14th. Weiss Ratings upgraded Tapestry from a "hold (c)" rating to a "buy (b-)" rating in a research report on Friday, August 14th. Zacks Research lowered Tapestry from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Daiwa Securities Group upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th. Finally, Evercore set a $175.00 price objective on shares of Tapestry in a report on Friday, May 8th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $175.12.

Insider Buying and Selling

In other news, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry stock in a transaction that occurred 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 directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 insiders.

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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