WCM Investment Management LLC Buys 191,174 Shares of Tapestry, Inc. $TPR

WCM Investment Management LLC grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 20.4% during the first quarter, HoldingsChannel.com reports. The fund owned 1,130,317 shares of the luxury accessories retailer’s stock after buying an additional 191,174 shares during the quarter. WCM Investment Management LLC’s holdings in Tapestry were worth $154,763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new position in Tapestry during the third quarter valued at approximately $29,000. Steph & Co. boosted its holdings in Tapestry by 128.7% in the fourth 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 last quarter. Flagship Harbor Advisors LLC purchased a new stake in Tapestry in the fourth quarter worth approximately $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry in the 4th quarter worth approximately $32,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of research reports. UBS Group boosted their target price on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Robert W. Baird raised their price target on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Raymond James Financial reiterated an “outperform” rating and set a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $164.00 target price on shares of Tapestry in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.06.

Tapestry Stock Down 0.0%

Shares of TPR stock opened at $141.43 on Monday. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. The stock has a market cap of $28.57 billion, a P/E ratio of 45.33, a P/E/G ratio of 1.30 and a beta of 1.43. 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 50 day simple moving average of $141.43 and a two-hundred day simple moving average of $142.12.

Tapestry (NYSE:TPR) last issued 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. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts expect that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

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

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction 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 transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction dated 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 directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This 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. 1.32% of the stock is currently owned by 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.