Tapestry, Inc. $TPR Stock Purchased by Stevens Capital Partners

Stevens Capital Partners raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 16.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,914 shares of the luxury accessories retailer’s stock after acquiring an additional 12,733 shares during the period. Tapestry makes up approximately 1.8% of Stevens Capital Partners’ holdings, making the stock its 15th biggest holding. Stevens Capital Partners’ holdings in Tapestry were worth $10,459,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TPR. World Investment Advisors raised its position in shares of Tapestry by 3.6% during the 1st quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after buying an additional 69 shares in the last quarter. Eastern Bank raised its position in Tapestry by 24.4% during the second quarter. Eastern Bank now owns 392 shares of the luxury accessories retailer’s stock valued at $57,000 after purchasing an additional 77 shares during the period. NewEdge Wealth LLC lifted its stake in shares of Tapestry by 2.7% in the 1st quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock valued at $450,000 after purchasing an additional 85 shares during the last quarter. Ashton Thomas Securities LLC lifted its stake in shares of Tapestry by 4.7% in the 1st quarter. Ashton Thomas Securities LLC now owns 2,002 shares of the luxury accessories retailer’s stock valued at $283,000 after purchasing an additional 90 shares during the last quarter. Finally, CX Institutional increased its position in shares of Tapestry by 1.3% during the 3rd quarter. CX Institutional now owns 7,800 shares of the luxury accessories retailer’s stock valued at $897,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TPR shares. TD Cowen started coverage on Tapestry in a research report on Friday. They issued a “strong-buy” rating for the company. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Robert W. Baird decreased their price target on Tapestry from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Tuesday, October 27th. Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Finally, Weiss Ratings raised shares of Tapestry from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and an average target price of $170.00.

Tapestry Stock Down 1.5%

Shares of NYSE:TPR opened at $116.09 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The business’s 50 day moving average is $117.65 and its 200 day moving average is $137.09. The stock has a market cap of $23.15 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.47 and a beta of 1.42. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week high of $164.80.

Tapestry (NYSE:TPR) last announced 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 return on equity of 254.95% and a net margin of 19.09%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. 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. Sell-side analysts predict that Tapestry, Inc. will post 7.97 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were issued a $0.4625 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.85 annualized dividend and a dividend yield of 1.6%. This is an increase from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is presently 25.38%.

Insider Activity

In other news, insider Denise Kulikowsky sold 5,810 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $115.38, for a total transaction of $670,357.80. Following the transaction, the insider directly owned 21,136 shares in the company, valued at approximately $2,438,671.68. This trade represents a 21.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joanne Crevoiserat sold 27,761 shares of Tapestry stock in a transaction that occurred 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 directly owned 666,149 shares in the company, valued at approximately $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.28% of the company’s stock.

About Tapestry

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.