Mach 1 Financial Group LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,645 shares of the luxury accessories retailer’s stock, valued at approximately $721,000.
Several other hedge funds have also recently made changes to their positions in the business. Northwest Wealth Management LLC raised its position in shares of Tapestry by 3.4% during the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock valued at $315,000 after buying an additional 82 shares in the last quarter. Fulton Bank N.A. raised its holdings in Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock valued at $405,000 after buying an additional 87 shares during the period. CVA Family Office LLC raised its holdings in Tapestry by 23.4% during the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer’s stock valued at $60,000 after buying an additional 89 shares during the period. Clark Financial Services Group Inc. BD raised its holdings in Tapestry by 1.8% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer’s stock valued at $733,000 after buying an additional 103 shares during the period. Finally, Essex Financial Services Inc. raised its holdings in Tapestry by 3.5% during the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after buying an additional 113 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
TPR has been the topic of several recent research reports. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Weiss Ratings upgraded Tapestry from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Wells Fargo & Company increased their price objective on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Raymond James Financial reissued an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Finally, Evercore set a $175.00 price objective on shares of Tapestry in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.67.
Tapestry Stock Performance
Shares of NYSE:TPR opened at $139.45 on Friday. The firm has a market cap of $28.17 billion, a PE ratio of 44.69, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. The firm’s 50 day simple moving average is $142.47 and its 200-day simple moving average is $133.57. Tapestry, Inc. has a one year low of $76.29 and a one year high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84.
Tapestry (NYSE:TPR – Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business 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 company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 6.95 EPS for the current year.
Tapestry Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.
Insider Activity at Tapestry
In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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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