Tapestry, Inc. $TPR Shares Acquired by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG increased its Tapestry stake by 13,153.1% in the second quarter, holding 23,193 shares valued at approximately $3.4 million. Institutional investors collectively own 90.77% of Tapestry’s stock.
• Analysts maintain a generally positive outlook, with Tapestry receiving a “Moderate Buy” consensus rating and an average price target of $175.12. Ratings include two Strong Buys, 15 Buys, and four Holds.
• Tapestry exceeded quarterly earnings and revenue estimates, reporting $1.32 in EPS and $1.88 billion in revenue, while revenue rose 8.9% year over year. The company also raised its quarterly dividend to $0.4625, representing a 1.5% annualized yield.

Raiffeisen Bank International AG increased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 13,153.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,193 shares of the luxury accessories retailer's stock after purchasing an additional 23,018 shares during the quarter. Raiffeisen Bank International AG's holdings in Tapestry were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in TPR. Cetera Trust Company N.A purchased a new stake in shares of Tapestry during the second quarter worth about $26,000. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $28,000. Triumph Capital Management purchased a new position in shares of Tapestry during the third quarter valued at approximately $29,000. Keating Financial Advisory Services Inc. acquired a new stake in Tapestry during the second quarter worth approximately $31,000. Finally, Virtus Advisers LLC purchased a new stake in Tapestry in the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TPR shares. Daiwa Securities Group upgraded Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Evercore set a $175.00 price objective on Tapestry in a report on Friday, May 8th. Wall Street Zen lowered Tapestry from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Morgan Stanley decreased their price target on Tapestry from $164.00 to $159.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Finally, Barclays upped their price target on shares of Tapestry from $182.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tapestry presently has an average rating of "Moderate Buy" and a consensus target price of $175.12.

Insider Activity at Tapestry

In related news, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry stock in a transaction 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 owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 Stock Down 0.5%

Shares of NYSE:TPR opened at $122.01 on Friday. The stock has a 50-day simple moving average of $140.70 and a 200-day simple moving average of $143.39. The stock has a market capitalization of $24.33 billion, a P/E ratio of 16.74, a PEG ratio of 1.55 and a beta of 1.42. 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 quick ratio of 1.25 and a current ratio of 1.75.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. Tapestry had a net margin of 19.09% and a return on equity of 254.95%. Tapestry's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. 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. Stockholders of record on Friday, September 4th will be paid 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 dividend yield of 1.5%. This is a boost from Tapestry's previous quarterly dividend of $0.40. Tapestry's payout ratio is 21.95%.

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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