Sierra Summit Advisors LLC acquired a new position in Tapestry, Inc. (NYSE:TPR – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,842 shares of the luxury accessories retailer’s stock, valued at approximately $1,130,000.
Several other institutional investors also recently modified their holdings of TPR. Woodline Partners LP grew its holdings in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Tapestry in the first quarter valued at approximately $493,000. Sivia Capital Partners LLC bought a new position in shares of Tapestry in the second quarter valued at approximately $602,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Tapestry in the second quarter valued at approximately $6,307,000. Finally, Brown Advisory Inc. grew its holdings in shares of Tapestry by 13.8% in 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. 90.77% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.
Tapestry Price Performance
Tapestry (NYSE:TPR – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company earned $1.03 earnings per share. Tapestry’s 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. Analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.
Tapestry Dividend Announcement
The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s dividend payout ratio is 51.28%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Barclays set a $179.00 target price on Tapestry and gave the company an “overweight” rating in a report on Friday, February 6th. UBS Group raised Tapestry from a “neutral” rating to a “buy” rating and upped their target price for the company from $142.00 to $187.00 in a report on Friday, May 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Tapestry in a report on Friday, February 6th. Finally, Zacks Research raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $160.67.
Check Out Our Latest Report on Tapestry
About Tapestry
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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