Transamerica Financial Advisors LLC Takes $6.59 Million Position in Tapestry, Inc. $TPR

Key Points

• Transamerica Financial Advisors acquired 45,036 Tapestry shares worth approximately $6.59 million during the second quarter. Institutional investors collectively own 90.77% of the company.
• Tapestry reported quarterly earnings of $1.32 per share and revenue of $1.88 billion, exceeding analyst estimates, while revenue increased 8.9% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $175.12. Tapestry also raised its quarterly dividend to $0.4625 per share, implying a 1.4% annual yield.

Transamerica Financial Advisors LLC bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 45,036 shares of the luxury accessories retailer's stock, valued at approximately $6,592,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cetera Trust Company N.A bought a new stake in shares of Tapestry during the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. acquired a new position in Tapestry during the second quarter worth $31,000. Acumen Wealth Advisors LLC acquired a new position in Tapestry during the fourth quarter worth $28,000. Virtus Advisers LLC bought a new stake in Tapestry during the second quarter worth $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry during the fourth quarter worth $32,000. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TPR shares. Wall Street Zen downgraded shares of Tapestry from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. JPMorgan Chase & Co. upped their target price on shares of Tapestry from $205.00 to $211.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. BTIG Research reduced their price target on Tapestry from $180.00 to $175.00 and set a "buy" rating for the company in a report on Friday, August 14th. Sanford C. Bernstein restated a "market perform" rating and issued a $185.00 price objective (up from $180.00) on shares of Tapestry in a research note on Friday, August 14th. Finally, Citigroup lifted their target price on Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Two equities research 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, the company has an average rating of "Moderate Buy" and an average target price of $175.12.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the sale, the chief executive officer 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. The sale 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 Trading Down 0.0%

Shares of TPR stock opened at $130.06 on Thursday. Tapestry, Inc. has a 12-month low of $93.00 and a 12-month high of $164.80. The company has a market capitalization of $25.93 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. The firm has a 50 day moving average price of $144.05 and a two-hundred day moving average price of $144.81. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44.

Tapestry (NYSE:TPR - Get Free Report) last posted its 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 company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.87 billion. Tapestry had a return on equity of 254.95% and a net margin of 19.09%.The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, analysts predict 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 issued a dividend of $0.4625 per share. This is an increase from Tapestry's previous quarterly dividend of $0.40. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry's payout ratio is 21.95%.

About Tapestry

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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