314,762 Shares in Tapestry, Inc. $TPR Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 314,762 shares of the luxury accessories retailer’s stock, valued at approximately $46,075,000. Freestone Grove Partners LP owned 0.16% of Tapestry as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cetera Trust Company N.A purchased a new stake in Tapestry during the second quarter worth $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Tapestry during the 2nd quarter worth $31,000. Acumen Wealth Advisors LLC purchased a new position in Tapestry in the fourth quarter valued at about $28,000. Virtus Advisers LLC bought a new stake in shares of Tapestry in the 2nd quarter valued at about $32,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Tapestry in the 4th quarter worth approximately $32,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TPR. Wall Street Zen lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Morgan Stanley cut their price target on shares of Tapestry from $164.00 to $159.00 and set an “overweight” rating on the stock in a report on Friday, August 14th. JPMorgan Chase & Co. lifted their price objective on Tapestry from $205.00 to $211.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. UBS Group increased their price target on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Wells Fargo & Company lowered their price target on Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.12.

Insider Transactions at Tapestry

In related 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 0.0%

TPR opened at $130.06 on Thursday. The stock has a market capitalization of $25.93 billion, a PE ratio of 17.84, a P/E/G ratio of 1.65 and a beta of 1.43. Tapestry, Inc. has a one year low of $93.00 and a one year high of $164.80. 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 business’s 50 day moving average price is $144.05 and its 200 day moving average price is $144.81.

Tapestry (NYSE:TPR) last posted its earnings results 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 return on equity of 254.95% and a net margin of 19.09%.The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The firm’s quarterly 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, equities research analysts expect that Tapestry, Inc. will post 7.94 EPS for the current year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be given a dividend of $0.4625 per share. 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. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend 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.