Public Sector Pension Investment Board Sells 5,140 Shares of Tapestry, Inc. $TPR

Public Sector Pension Investment Board decreased its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 8.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,329 shares of the luxury accessories retailer's stock after selling 5,140 shares during the quarter. Public Sector Pension Investment Board's holdings in Tapestry were worth $3,896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. grew its position in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer's stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Greenline Partners LLC acquired a new position in shares of Tapestry in the fourth quarter valued at approximately $29,000. MorganRosel Wealth Management LLC acquired a new stake in shares of Tapestry in the first quarter valued at approximately $35,000. Opal Wealth Advisors LLC acquired a new stake in shares of Tapestry in the first quarter valued at approximately $35,000. Finally, Coppell Advisory Solutions LLC raised its position in shares of Tapestry by 40.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 519 shares of the luxury accessories retailer's stock valued at $34,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on TPR. Raymond James Financial reiterated an "outperform" rating and set a $115.00 price target (up previously from $85.00) on shares of Tapestry in a research report on Tuesday, July 22nd. Sanford C. Bernstein reiterated an "outperform" rating and set a $112.00 target price on shares of Tapestry in a research report on Friday, August 15th. Morgan Stanley lifted their target price on shares of Tapestry from $90.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Evercore ISI reduced their target price on Tapestry from $130.00 to $125.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Finally, The Goldman Sachs Group lifted their target price on Tapestry from $84.00 to $93.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $105.47.

Tapestry Stock Performance

TPR stock traded up $0.8350 during midday trading on Wednesday, reaching $98.7550. 3,836,807 shares of the company's stock traded hands, compared to its average volume of 4,957,015. The company has a 50-day moving average price of $97.64 and a two-hundred day moving average price of $83.07. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a 52 week low of $39.40 and a 52 week high of $114.05. The firm has a market capitalization of $20.55 billion, a PE ratio of 156.75, a price-to-earnings-growth ratio of 2.52 and a beta of 1.51.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $0.92 EPS. The business's quarterly revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Stockholders of record on Friday, September 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 5th. This is a positive change from Tapestry's previous quarterly dividend of $0.35. Tapestry's payout ratio is currently 222.22%.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.