Janus Henderson Group PLC lifted its stake in Tapestry, Inc. (NYSE:TPR – Free Report) by 28.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,038 shares of the luxury accessories retailer’s stock after buying an additional 27,540 shares during the period. Janus Henderson Group PLC’s holdings in Tapestry were worth $17,362,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Woodline Partners LP lifted its position in shares of Tapestry by 25.0% during the 1st 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 during the period. Acadian Asset Management LLC bought a new stake in Tapestry during the first quarter worth about $493,000. Sivia Capital Partners LLC acquired a new stake in Tapestry during the second quarter worth about $602,000. Arrowstreet Capital Limited Partnership bought a new position in Tapestry in the 2nd quarter valued at about $6,307,000. Finally, Brown Advisory Inc. raised its position in shares of Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after buying an additional 439 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and set a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Morgan Stanley restated an “overweight” rating and set a $164.00 target price on shares of Tapestry in a research note on Monday, July 6th. UBS Group raised their target price on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Evercore set a $175.00 price target on Tapestry in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.50.
Tapestry Trading Up 2.1%
TPR opened at $155.60 on Tuesday. The company has a market cap of $31.44 billion, a P/E ratio of 49.87, a PEG ratio of 1.38 and a beta of 1.43. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The company’s 50 day moving average is $144.33 and its 200-day moving average is $143.35. Tapestry, Inc. has a 1-year low of $92.62 and a 1-year high of $161.97.
Tapestry (NYSE:TPR – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts predict that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.
Tapestry Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s dividend payout ratio is 51.28%.
Insiders Place Their Bets
In related news, CEO Todd Kahn sold 19,557 shares of the business’s 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 sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value 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. The trade was 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 corporate insiders.
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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