4,224 Shares in Tapestry, Inc. $TPR Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC bought a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 4,224 shares of the luxury accessories retailer’s stock, valued at approximately $618,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP grew its stake in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after buying an additional 3,495 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Tapestry during the first quarter worth about $493,000. Sivia Capital Partners LLC acquired a new stake in shares of Tapestry during the second quarter worth about $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tapestry during the second quarter worth about $6,307,000. Finally, Brown Advisory Inc. boosted its stake in shares of Tapestry by 13.8% in the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after purchasing an additional 439 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.32% of the stock is owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE TPR opened at $132.23 on Wednesday. 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, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $164.80. The firm has a market capitalization of $26.37 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.15 and a beta of 1.43. The stock’s 50-day simple moving average is $145.97 and its 200-day simple moving average is $144.81.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.88 billion during 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 quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.04 earnings per share. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 7.96 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a $0.4625 dividend. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. 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 1.4%. Tapestry’s payout ratio is 21.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TPR shares. Morgan Stanley cut their target price on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a research note on Friday. Robert W. Baird upped their price objective on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen cut Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday. Sanford C. Bernstein reissued a “market perform” rating and set a $185.00 target price (up from $180.00) on shares of Tapestry in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price target on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.12.

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.