Hillsdale Investment Management Inc. Decreases Holdings in Tapestry, Inc. $TPR

Hillsdale Investment Management Inc. lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 81.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,000 shares of the luxury accessories retailer’s stock after selling 42,800 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Tapestry were worth $1,278,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Fideuram Asset Management Ireland dac purchased a new stake in Tapestry during the fourth quarter worth about $877,000. Fiducient Advisors LLC purchased a new stake in Tapestry during the fourth quarter worth about $635,000. National Pension Service increased its holdings in Tapestry by 6,461.3% during the fourth quarter. National Pension Service now owns 352,144 shares of the luxury accessories retailer’s stock worth $44,993,000 after buying an additional 346,777 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its holdings in Tapestry by 313.9% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 55,876 shares of the luxury accessories retailer’s stock worth $7,139,000 after buying an additional 42,376 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Tapestry by 218.9% during the fourth quarter. Intech Investment Management LLC now owns 195,089 shares of the luxury accessories retailer’s stock worth $24,927,000 after buying an additional 133,911 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on TPR. Weiss Ratings downgraded shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Citigroup lifted their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Barclays set a $179.00 target price on shares of Tapestry and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.67.

Tapestry Price Performance

Shares of NYSE:TPR opened at $145.40 on Monday. The company has a 50 day moving average of $142.31 and a 200 day moving average of $135.10. The stock has a market cap of $29.38 billion, a P/E ratio of 46.60, a P/E/G ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a 12 month low of $76.92 and a 12 month high of $161.97. 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 (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.30 by $0.36. The company 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%. Tapestry’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is currently 51.28%.

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.