Tapestry, Inc. $TPR Stock Holdings Lowered by Asset Management One Co. Ltd.

Key Points

• Asset Management One reduced its Tapestry stake by 7.4% in the third quarter, selling 8,803 shares and retaining 110,141 shares valued at approximately $12.7 million. Institutional investors collectively own 90.77% of the company.
• Tapestry reported quarterly earnings of $1.32 per share, beating estimates by $0.04, while revenue rose 8.9% year over year to $1.88 billion. The company also increased its quarterly dividend from $0.40 to $0.4625 per share.
• TPR shares opened at $116.09, near the lower end of their annual range, while analysts maintained a broadly positive outlook with a consensus “Moderate Buy” rating and a $170 price target.

Asset Management One Co. Ltd. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 110,141 shares of the luxury accessories retailer's stock after selling 8,803 shares during the quarter. Asset Management One Co. Ltd. owned 0.06% of Tapestry worth $12,671,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cetera Trust Company N.A purchased a new position in Tapestry during the second quarter worth $26,000. Keating Financial Advisory Services Inc. bought a new position in Tapestry during the second quarter valued at $31,000. Virtus Advisers LLC bought a new position in Tapestry during the second quarter valued at $32,000. GK Wealth Management LLC purchased a new stake in shares of Tapestry in the third quarter valued at $28,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Tapestry by 336.8% in the second quarter. Elevation Wealth Partners LLC now owns 297 shares of the luxury accessories retailer's stock valued at $43,000 after acquiring an additional 229 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insiders Place Their Bets

In other Tapestry news, insider Denise Kulikowsky sold 5,810 shares of the business's stock in a transaction dated 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 directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. The trade was a 21.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 666,149 shares of the company's stock, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.28% of the company's stock.

Tapestry Trading Down 1.5%

NYSE TPR opened at $116.09 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. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 1.49 and a beta of 1.42. The company's 50-day simple moving average is $117.65 and its two-hundred day simple moving average is $137.09. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80.

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, topping 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 firm 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 earned $1.04 EPS. The company's revenue 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 analysts forecast that Tapestry, Inc. will post 7.95 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were given a dividend of $0.4625 per share. This is a boost from Tapestry's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.85 annualized dividend and a yield of 1.6%. Tapestry's payout ratio is 25.38%.

Analyst Ratings Changes

Several research firms have recently issued reports on TPR. Daiwa Securities Group upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. Wall Street Zen downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Morgan Stanley decreased their price objective on shares of Tapestry from $164.00 to $159.00 and set an "overweight" rating for the company in a research note on Friday, August 14th. BTIG Research decreased their price objective on shares of Tapestry from $180.00 to $175.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings upgraded Tapestry from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 16th. Two equities research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $170.00.

Tapestry Company Profile

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

Tapestry sells its products through company-operated stores, outlet locations, e-commerce websites, wholesale partners and select distributors.

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