Vise Technologies Inc. Buys Shares of 17,914 Tapestry, Inc. $TPR

Vise Technologies Inc. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,914 shares of the luxury accessories retailer’s stock, valued at approximately $2,622,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new position in Tapestry in the 4th quarter worth about $8,109,000. Norges Bank bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $345,349,000. Keystone Investors PTE Ltd. boosted its position in shares of Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after buying an additional 9,303 shares during the period. SEB Asset Management AB acquired a new position in shares of Tapestry during the first quarter worth approximately $59,525,000. Finally, North Dakota State Investment Board bought a new position in Tapestry in the 4th quarter worth approximately $2,417,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company lowered their target price on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Robert W. Baird increased their price target on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Daiwa Securities Group raised Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $132.47, for a total value of $3,677,499.67. Following the completion of the transaction, the chief executive officer owned 666,149 shares in the company, valued at $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. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE TPR opened at $130.66 on Friday. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company has a current ratio of 1.75, a quick ratio of 1.25 and a debt-to-equity ratio of 3.44. The firm has a 50-day moving average of $145.13 and a two-hundred day moving average of $144.76. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.64 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share (EPS) 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 company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted $1.04 EPS. The business’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. As a group, analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, September 4th will be issued a $0.4625 dividend. This is an increase from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 4th. Tapestry’s dividend payout ratio is currently 21.95%.

Tapestry Company 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.