Cookson Peirce & Co. Inc. Boosts Stock Holdings in Tapestry, Inc. $TPR

Cookson Peirce & Co. Inc. increased its stake in Tapestry, Inc. (NYSE:TPR) by 17.5% during the 2nd quarter, Holdings Channel reports. The fund owned 111,470 shares of the luxury accessories retailer’s stock after purchasing an additional 16,600 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Tapestry were worth $16,317,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new position in Tapestry in the fourth quarter valued at about $8,109,000. Norges Bank acquired a new stake in Tapestry during the fourth quarter worth about $345,349,000. SEB Asset Management AB purchased a new position in shares of Tapestry in the 1st quarter valued at $59,525,000. Keystone Investors PTE Ltd. lifted its position in Tapestry by 17.4% during the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock worth $8,001,000 after acquiring an additional 9,303 shares in the last quarter. Finally, Vega Investment Solutions acquired a new stake in shares of Tapestry during the second quarter valued at about $10,322,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was 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. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein reiterated a “market perform” rating and issued a $185.00 price target (up from $180.00) on shares of Tapestry in a report on Friday, August 14th. UBS Group boosted their target price on shares of Tapestry from $230.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. Wells Fargo & Company dropped their price target on shares of Tapestry from $165.00 to $160.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, Telsey Advisory Group increased their price objective on Tapestry from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Two investment 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Stock Performance

Shares of TPR opened at $125.75 on Friday. Tapestry, Inc. has a 12 month low of $93.00 and a 12 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 fifty day simple moving average of $143.26 and a 200 day simple moving average of $144.48. The stock has a market capitalization of $25.07 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.59 and a beta of 1.43.

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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the company posted $1.04 EPS. Tapestry’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. Research analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal 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 paid a $0.4625 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. This is a boost from Tapestry’s previous quarterly dividend of $0.40. Tapestry’s dividend payout ratio (DPR) is 21.95%.

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.