Systematic Financial Management LP Decreases Holdings in Tapestry, Inc. $TPR

Systematic Financial Management LP reduced its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 233,442 shares of the luxury accessories retailer’s stock after selling 7,705 shares during the quarter. Systematic Financial Management LP owned approximately 0.12% of Tapestry worth $32,941,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. World Investment Advisors lifted its stake in Tapestry by 3.6% during the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after purchasing an additional 69 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in Tapestry by 4.7% in the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after purchasing an additional 71 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Tapestry by 2.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after purchasing an additional 73 shares during the last quarter. Northwest Wealth Management LLC raised its holdings in Tapestry by 3.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock worth $315,000 after purchasing an additional 82 shares in the last quarter. Finally, NewEdge Wealth LLC lifted its position in shares of Tapestry by 2.7% during the 1st quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock worth $450,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade represents 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. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

TPR stock opened at $138.78 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The company has a market capitalization of $28.04 billion, a P/E ratio of 44.48, a PEG ratio of 1.32 and a beta of 1.43. The business has a 50 day simple moving average of $142.18 and a 200-day simple moving average of $142.49. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97.

Tapestry (NYSE:TPR) last announced its earnings results 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. 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 period in the previous year, the company posted $1.03 EPS. The company’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. As a group, equities analysts anticipate that Tapestry, Inc. will post 6.97 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.40 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

TPR has been the subject of several research analyst reports. Barclays upped their target price on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Citigroup lifted their price target on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reissued an “outperform” rating and issued a $180.00 price target on shares of Tapestry in a research report on Tuesday, June 2nd. Raymond James Financial restated an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a research note on Thursday, April 23rd. Finally, BTIG Research reaffirmed a “buy” rating and set a $180.00 price objective on shares of Tapestry in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.06.

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.