Castleark Management LLC Purchases 62,386 Shares of Tapestry, Inc. $TPR

Castleark Management LLC raised its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 43.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 204,470 shares of the luxury accessories retailer’s stock after purchasing an additional 62,386 shares during the quarter. Tapestry makes up approximately 1.0% of Castleark Management LLC’s portfolio, making the stock its 23rd largest holding. Castleark Management LLC’s holdings in Tapestry were worth $28,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Acumen Wealth Advisors LLC bought a new stake in shares of Tapestry in the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new position in Tapestry in the 3rd quarter worth approximately $29,000. Steph & Co. grew its stake in Tapestry by 128.7% in the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after buying an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry in the 4th quarter valued at approximately $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry during the 4th quarter valued at $32,000. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of several recent research reports. Citigroup increased their target price on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. BTIG Research reiterated a “buy” rating and set a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Morgan Stanley restated an “overweight” rating and issued a $164.00 target price on shares of Tapestry in a research note on Monday, July 6th. Finally, Robert W. Baird lifted their target price on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $170.06.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The stock was 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 owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, 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. Company insiders own 1.32% of the company’s stock.

Tapestry Stock Up 0.2%

Shares of NYSE:TPR opened at $142.82 on Monday. The firm has a fifty day moving average price of $142.46 and a two-hundred day moving average price of $142.59. The company has a market cap of $28.86 billion, a price-to-earnings ratio of 45.78, a PEG ratio of 1.30 and a beta of 1.43. 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 one year low of $92.62 and a one year high of $161.97.

Tapestry (NYSE:TPR) last released its quarterly 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. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The business’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts anticipate that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

Tapestry 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.