Illinois Municipal Retirement Fund Grows Stock Holdings in Tapestry, Inc. $TPR

Illinois Municipal Retirement Fund lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 12.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 114,384 shares of the luxury accessories retailer’s stock after buying an additional 13,033 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Tapestry were worth $16,141,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TPR. Schroder Investment Management Group lifted its holdings in shares of Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after acquiring an additional 4,500,850 shares in the last quarter. Norges Bank acquired a new stake in Tapestry in the 4th quarter valued at $345,349,000. Wellington Management Group LLP increased its holdings in Tapestry by 632.3% in the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after purchasing an additional 2,043,353 shares in the last quarter. State Street Corp raised its position in Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the period. Finally, Voloridge Investment Management LLC raised its position in Tapestry by 160.5% in the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after purchasing an additional 1,162,442 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 2.9%

TPR stock opened at $144.29 on Friday. The company has a market capitalization of $29.15 billion, a P/E ratio of 46.25, a PEG ratio of 1.29 and a beta of 1.43. The firm has a 50 day simple moving average of $141.27 and a 200-day simple moving average of $142.05. 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, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 6.96 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is 51.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TPR shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $164.00 target price on shares of Tapestry in a research report on Monday, July 6th. 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. BTIG Research reiterated a “buy” rating and set a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Evercore set a $175.00 price target on Tapestry in a research report on Friday, May 8th. Finally, Barclays upped their price target on Tapestry from $179.00 to $182.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Transactions at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by company insiders.

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.