Tapestry, Inc. $TPR Holdings Trimmed by Patton Fund Management Inc.

Patton Fund Management Inc. reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 63.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 19,858 shares of the luxury accessories retailer’s stock after selling 34,312 shares during the period. Patton Fund Management Inc.’s holdings in Tapestry were worth $2,802,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TPR. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at $28,000. Steph & Co. lifted 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 acquiring an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Tapestry during the 4th quarter worth about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Tapestry during the 4th quarter worth about $32,000. Finally, Triumph Capital Management purchased a new position in Tapestry during the 3rd quarter valued at about $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TPR. Evercore set a $175.00 price target on shares of Tapestry in a research report on Friday, May 8th. Citigroup boosted their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Argus set a $165.00 target price on shares of Tapestry in a research report on Thursday, March 12th. Finally, Robert W. Baird lifted 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 research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.65.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction 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 completion of the sale, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 firm’s stock in a transaction 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 in the company, valued at $17,258,585.16. The trade was 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 corporate insiders.

Tapestry Price Performance

NYSE TPR opened at $146.24 on Monday. The stock’s 50-day moving average is $142.32 and its two-hundred day moving average is $140.33. 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, Inc. has a fifty-two week low of $84.39 and a fifty-two week high of $161.97. The firm has a market cap of $29.55 billion, a P/E ratio of 46.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.36. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, analysts anticipate 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 was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s payout ratio is presently 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.