New York Life Investment Management LLC reduced its stake in shares of Tapestry, Inc. (NYSE:TPR – Free Report) by 43.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,087 shares of the luxury accessories retailer’s stock after selling 21,311 shares during the quarter. New York Life Investment Management LLC’s holdings in Tapestry were worth $3,589,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of TPR. State Street Corp grew its stake in shares of Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after purchasing an additional 846,553 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Tapestry by 21.4% in the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after purchasing an additional 760,646 shares during the last quarter. Northern Trust Corp grew its stake in shares of Tapestry by 7.6% in the third quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock worth $325,034,000 after purchasing an additional 203,520 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after purchasing an additional 1,750,566 shares during the last quarter. 90.77% of the stock is owned by institutional investors.
Insider Activity
In other Tapestry news, Director Thomas Greco sold 14,245 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the completion of the sale, the director directly owned 21,302 shares in the company, valued at $3,289,880.88. This trade represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 90,816 shares of company stock valued at $13,448,032 over the last 90 days. 1.32% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Read Our Latest Report on Tapestry
Tapestry Stock Performance
Shares of TPR opened at $129.13 on Monday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry, Inc. has a one year low of $76.29 and a one year high of $161.97. The company has a 50-day simple moving average of $143.45 and a two-hundred day simple moving average of $132.93. The firm has a market capitalization of $26.09 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 1.31 and a beta of 1.45.
Tapestry (NYSE:TPR – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the business posted $1.03 earnings per share. Tapestry’s quarterly revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, analysts anticipate that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.
Tapestry Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.2%. Tapestry’s dividend payout ratio (DPR) is 51.28%.
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.
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