Caisse de depot et placement du Quebec Purchases Shares of 506,895 Tapestry, Inc. $TPR

Caisse de depot et placement du Quebec acquired a new position in Tapestry, Inc. (NYSE:TPR) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 506,895 shares of the luxury accessories retailer’s stock, valued at approximately $74,199,000.

Other institutional investors have also recently made changes to their positions in the company. Woodline Partners LP grew its holdings in Tapestry by 25.0% during the 1st 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 position in shares of Tapestry in the first quarter worth $493,000. Sivia Capital Partners LLC bought a new position in shares of Tapestry during the second quarter worth $602,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Tapestry during the second quarter worth $6,307,000. Finally, Brown Advisory Inc. grew its stake in Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after acquiring an additional 439 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Tapestry stock opened at $123.14 on Friday. The company’s 50-day moving average price is $143.63 and its 200-day moving average price is $144.61. Tapestry, Inc. has a twelve month low of $93.00 and a twelve month high of $164.80. The company has a quick ratio of 1.25, a current ratio of 1.75 and a debt-to-equity ratio of 3.44. The company has a market cap of $24.55 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 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 net margin of 19.09% and a return on equity of 254.95%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 EPS. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 7.94 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed 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. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. 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%.

Analyst Ratings Changes

Several analysts have commented on the stock. BTIG Research decreased their price target on shares of Tapestry from $180.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Sanford C. Bernstein restated a “market perform” rating and set a $185.00 price objective (up from $180.00) on shares of Tapestry in a research report on Friday, August 14th. Weiss Ratings raised Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, August 14th. Daiwa Securities Group upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Wall Street Zen lowered Tapestry from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.12.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,761 shares of the business’s 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 approximately $88,244,758.03. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

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.