North Dakota State Investment Board bought a new stake in Tapestry, Inc. (NYSE:TPR – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,920 shares of the luxury accessories retailer’s stock, valued at approximately $2,417,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Elyxium Wealth LLC acquired a new position in shares of Tapestry in the 4th quarter valued at approximately $60,000. Soltis Investment Advisors LLC raised its position in shares of Tapestry by 13.4% in the 4th quarter. Soltis Investment Advisors LLC now owns 2,104 shares of the luxury accessories retailer’s stock valued at $269,000 after buying an additional 249 shares in the last quarter. iA Global Asset Management Inc. raised its position in shares of Tapestry by 4.4% in the 4th quarter. iA Global Asset Management Inc. now owns 38,082 shares of the luxury accessories retailer’s stock valued at $4,866,000 after buying an additional 1,598 shares in the last quarter. Accredited Investors Inc. acquired a new position in shares of Tapestry in the 4th quarter valued at approximately $215,000. Finally, Canada Post Corp Registered Pension Plan raised its position in shares of Tapestry by 65.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 9,597 shares of the luxury accessories retailer’s stock valued at $1,226,000 after buying an additional 3,812 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Tapestry from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Argus set a $165.00 target price on shares of Tapestry in a research report on Thursday, March 12th. Robert W. Baird lifted their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $170.00 price target on shares of Tapestry in a report on Friday, February 6th. Finally, UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and lifted their price target for the company from $142.00 to $187.00 in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $160.67.
Insider Activity
In other news, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the transaction, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.32% of the company’s stock.
Tapestry Trading Up 1.5%
Shares of Tapestry stock opened at $131.28 on Tuesday. The firm has a market capitalization of $26.52 billion, a PE ratio of 42.08, a price-to-earnings-growth ratio of 1.31 and a beta of 1.45. 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 firm’s 50 day moving average is $143.08 and its 200 day moving average is $133.06. Tapestry, Inc. has a 1 year low of $76.29 and a 1 year high of $161.97.
Tapestry (NYSE:TPR – Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts forecast that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.
Tapestry Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio is 51.28%.
Tapestry 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.
Read More
- Five stocks we like better than Tapestry
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR – Free Report).
Receive News & Ratings for Tapestry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tapestry and related companies with MarketBeat.com's FREE daily email newsletter.
