UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Holdings in Tapestry, Inc. $TPR

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 53.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,169,602 shares of the luxury accessories retailer’s stock after acquiring an additional 758,915 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.09% of Tapestry worth $317,586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. purchased a new position in shares of Tapestry during the 4th quarter valued at approximately $8,109,000. Norges Bank bought a new stake in shares of Tapestry in the fourth quarter worth $345,349,000. SEB Asset Management AB bought a new stake in shares of Tapestry in the first quarter worth $59,525,000. Keystone Investors PTE Ltd. raised its holdings in Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after acquiring an additional 9,303 shares in the last quarter. Finally, Vega Investment Solutions bought a new position in Tapestry during the 2nd quarter valued at $10,322,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several research analyst reports. Weiss Ratings raised shares of Tapestry from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. increased their target price on Tapestry from $205.00 to $211.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Zacks Research downgraded Tapestry from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Barclays upped their price target on Tapestry from $182.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of Tapestry from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $175.12.

Tapestry Trading Down 1.7%

Tapestry stock opened at $123.33 on Tuesday. Tapestry, Inc. has a 52-week low of $93.00 and a 52-week 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 firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.59 and a beta of 1.43. The firm has a 50-day moving average price of $142.75 and a two-hundred day moving average price of $144.20.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, August 13th. The luxury accessories retailer reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Tapestry has set its FY 2027 guidance at 7.800-7.900 EPS. Sell-side analysts expect that Tapestry, Inc. will post 7.94 earnings per share for the current year.

Tapestry Increases Dividend

The firm also recently declared 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 of this dividend is Friday, September 4th. This is a positive change from Tapestry’s previous quarterly dividend of $0.40. This represents a $1.85 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is currently 21.95%.

Insider Activity

In other 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 of the company’s stock, valued at approximately $88,244,758.03. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. 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.