Tredje AP fonden Buys New Stake in Tapestry, Inc. $TPR

Tredje AP fonden bought a new stake in Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 57,995 shares of the luxury accessories retailer’s stock, valued at approximately $7,410,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPR. Cloud Capital Management LLC acquired a new position in Tapestry in the 3rd quarter valued at $26,000. Triumph Capital Management acquired a new stake in Tapestry in the 3rd quarter worth $29,000. Steph & Co. grew its position in Tapestry by 128.7% in the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Tapestry in the 4th quarter worth $31,000. Finally, Cornerstone Planning Group LLC grew its position in Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after purchasing an additional 272 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The shares were 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 directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TPR has been the topic of several research analyst reports. Telsey Advisory Group raised their price target on shares of Tapestry to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. BNP Paribas Exane initiated coverage on shares of Tapestry in a research report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price target on the stock. Argus set a $165.00 price target on shares of Tapestry in a research report on Thursday, March 12th. The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a research report on Friday, February 6th. Finally, Citigroup raised their price target on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.67.

Tapestry Price Performance

Shares of Tapestry stock opened at $131.65 on Wednesday. Tapestry, Inc. has a twelve month low of $76.29 and a twelve month high of $161.97. The firm has a market cap of $26.60 billion, a P/E ratio of 42.20, a price-to-earnings-growth ratio of 1.33 and a beta of 1.45. The firm’s 50-day simple moving average is $142.83 and its 200-day simple moving average is $133.19. 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) 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. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is currently 51.28%.

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.