Storgate LLC Makes New $729,000 Investment in Tapestry, Inc. $TPR

Storgate LLC purchased a new position in Tapestry, Inc. (NYSE:TPR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,709 shares of the luxury accessories retailer’s stock, valued at approximately $729,000. Tapestry accounts for approximately 0.6% of Storgate LLC’s investment portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steph & Co. boosted its stake 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 period. Flagship Harbor Advisors LLC bought a new position in Tapestry in the 4th quarter worth approximately $31,000. Triumph Capital Management bought a new position in Tapestry in the 3rd quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its stake 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 period. Finally, HM Payson & Co. boosted its stake in Tapestry by 125.8% in the 4th quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer’s stock worth $37,000 after purchasing an additional 161 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insider Activity at Tapestry

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

Analysts Set New Price Targets

Several research analysts have weighed in on TPR shares. Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. BTIG Research restated a “buy” rating and issued a $180.00 price target on shares of Tapestry in a research note on Wednesday. Argus set a $165.00 price target on Tapestry in a research note on Thursday, March 12th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, BNP Paribas Exane assumed coverage on Tapestry in a report on Friday, February 13th. They set an “outperform” rating and a $176.00 price objective on the stock. Two investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $165.12.

Tapestry Stock Up 1.5%

Shares of TPR opened at $147.58 on Friday. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a 1 year low of $78.59 and a 1 year high of $161.97. The business’s 50 day simple moving average is $142.25 and its 200-day simple moving average is $137.60. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders 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 dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s dividend payout ratio is 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.