RM Financial Services LLC Invests $654,000 in Tapestry, Inc. $TPR

RM Financial Services LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,117 shares of the luxury accessories retailer’s stock, valued at approximately $654,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its stake in Tapestry by 21.7% in the 3rd quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock worth $68,868,000 after purchasing an additional 108,278 shares during the period. DNB Asset Management AS increased its stake in shares of Tapestry by 1,331.4% in the third quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock worth $4,470,000 after buying an additional 36,720 shares during the period. Russell Investments Group Ltd. raised its holdings in Tapestry by 23.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 217,408 shares of the luxury accessories retailer’s stock valued at $24,615,000 after buying an additional 41,556 shares during the last quarter. Advisory Research Inc. boosted its position in Tapestry by 30.1% during the 3rd quarter. Advisory Research Inc. now owns 228,107 shares of the luxury accessories retailer’s stock valued at $25,826,000 after buying an additional 52,747 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its holdings in Tapestry by 420.8% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 24,233 shares of the luxury accessories retailer’s stock worth $2,744,000 after acquiring an additional 19,580 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Tapestry from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and boosted their price target for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and set a $165.00 target price on shares of Tapestry in a 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. Finally, Robert W. Baird upped their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.22.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the completion of the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by insiders.

Tapestry Trading Down 3.2%

TPR opened at $140.90 on Thursday. The firm has a market cap of $28.47 billion, a P/E ratio of 45.16, a P/E/G ratio of 1.48 and a beta of 1.42. The stock has a 50-day moving average of $142.10 and a 200 day moving average of $137.25. Tapestry, Inc. has a 12 month low of $78.59 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 posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The business’s revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is 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.