Tapestry, Inc. $TPR Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in Tapestry, Inc. (NYSE:TPR) by 56.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 955,417 shares of the luxury accessories retailer’s stock after selling 1,251,156 shares during the quarter. Wellington Management Group LLP owned 0.48% of Tapestry worth $139,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TPR. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Tapestry in the fourth quarter valued at $8,109,000. Norges Bank acquired a new position in Tapestry during the 4th quarter worth $345,349,000. SEB Asset Management AB purchased a new stake in Tapestry during the 1st quarter worth about $59,525,000. Keystone Investors PTE Ltd. increased its holdings 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 purchasing an additional 9,303 shares during the period. Finally, Vega Investment Solutions acquired a new stake in Tapestry in the 2nd quarter valued at about $10,322,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TPR. Wall Street Zen lowered shares of Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Telsey Advisory Group lifted their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. Barclays boosted their price target on shares of Tapestry from $182.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Morgan Stanley reduced their price objective 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. Finally, BTIG Research lowered their target price on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.12.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,761 shares of Tapestry stock in a transaction that occurred 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 owned 666,149 shares of the company’s stock, valued at $88,244,758.03. The trade was a 4.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Shares of Tapestry stock opened at $123.33 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. Tapestry, Inc. has a 52 week low of $93.00 and a 52 week high of $164.80. The firm’s 50 day moving average is $142.75 and its two-hundred day moving average is $144.20. The firm has a market capitalization of $24.59 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.59 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share 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 business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. The company’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. Research analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, September 4th will be paid a dividend of $0.4625 per share. The ex-dividend date is Friday, September 4th. This represents a $1.85 dividend on an annualized basis and a 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.