Park National Corp OH acquired a new position in Tapestry, Inc. (NYSE:TPR – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 35,334 shares of the luxury accessories retailer’s stock, valued at approximately $4,986,000.
Several other large investors also recently added to or reduced their stakes in TPR. BI Asset Management Fondsmaeglerselskab A S increased its stake in Tapestry by 155.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 154,652 shares of the luxury accessories retailer’s stock worth $21,823,000 after acquiring an additional 94,106 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Tapestry by 13.1% during the 4th quarter. Hsbc Holdings PLC now owns 386,483 shares of the luxury accessories retailer’s stock valued at $49,403,000 after acquiring an additional 44,755 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Tapestry by 78.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 17,760 shares of the luxury accessories retailer’s stock valued at $2,269,000 after acquiring an additional 7,780 shares during the last quarter. Larry Mathis Financial Planning LLC purchased a new position in shares of Tapestry during the fourth quarter worth about $218,000. Finally, Corient Private Wealth LLC grew its holdings in shares of Tapestry by 12.9% during the fourth quarter. Corient Private Wealth LLC now owns 64,512 shares of the luxury accessories retailer’s stock worth $8,243,000 after purchasing an additional 7,375 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a research note on Thursday, April 23rd. UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and increased their price target for the stock from $142.00 to $187.00 in a report on Friday, May 8th. Finally, Citigroup raised their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $165.12.
Tapestry Price Performance
Shares of Tapestry stock opened at $144.07 on Friday. The firm has a market capitalization of $29.11 billion, a PE ratio of 46.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 12 month low of $83.26 and a 12 month high of $161.97. The business’s 50-day moving average price is $142.60 and its 200-day moving average price is $138.94.
Tapestry (NYSE:TPR – Get Free Report) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.Tapestry’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.
Tapestry Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry’s payout ratio is presently 51.28%.
Insider Buying and Selling
In related news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.
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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