IPG Investment Advisors LLC purchased a new position in Tapestry, Inc. (NYSE:TPR – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,830 shares of the luxury accessories retailer’s stock, valued at approximately $1,767,000.
A number of other large investors have also recently made changes to their positions in the stock. Severin Investments LLC bought a new position in shares of Tapestry in the fourth quarter worth $641,000. Geode Capital Management LLC boosted its holdings in shares of Tapestry by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after acquiring an additional 203,764 shares during the period. Expressive Wealth LLC bought a new position in shares of Tapestry in the fourth quarter worth $407,000. Global Assets Advisory LLC bought a new position in shares of Tapestry in the fourth quarter worth $224,000. Finally, Allstate Corp boosted its holdings in shares of Tapestry by 104.9% in the fourth quarter. Allstate Corp now owns 15,660 shares of the luxury accessories retailer’s stock worth $2,001,000 after acquiring an additional 8,019 shares during the period. 90.77% of the stock is owned by institutional investors.
Insider Buying and Selling at Tapestry
In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.
Tapestry Price Performance
Tapestry (NYSE:TPR – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.
Tapestry Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.2%. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.
Analysts Set New Price Targets
A number of research firms have recently commented on TPR. Telsey Advisory Group raised their price target on Tapestry to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Barclays set a $179.00 price target on Tapestry and gave the stock an “overweight” rating in a report on Friday, February 6th. Argus set a $165.00 price target on Tapestry in a report on Thursday, March 12th. Zacks Research raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, The Goldman Sachs Group set a $166.00 price target on Tapestry in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.
View Our Latest Analysis 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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