Westfield Capital Management Co. LP Lowers Stake in Tapestry, Inc. $TPR

Westfield Capital Management Co. LP lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 14.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,098,104 shares of the luxury accessories retailer’s stock after selling 352,567 shares during the period. Tapestry accounts for 1.1% of Westfield Capital Management Co. LP’s holdings, making the stock its 15th biggest position. Westfield Capital Management Co. LP’s holdings in Tapestry were worth $268,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp lifted its holdings in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after buying an additional 1,494,193 shares during the period. Geode Capital Management LLC lifted its holdings in Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after buying an additional 203,764 shares during the period. Schroder Investment Management Group lifted its holdings in Tapestry by 21.1% during the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after buying an additional 846,553 shares during the period. AQR Capital Management LLC lifted its holdings in Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after buying an additional 760,646 shares during the period. Finally, Northern Trust Corp lifted its holdings in Tapestry by 7.6% during the third quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock worth $325,034,000 after buying an additional 203,520 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $140.60 on Friday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The stock’s fifty day moving average price is $142.03 and its 200 day moving average price is $136.16. Tapestry, Inc. has a 1 year low of $77.79 and a 1 year high of $161.97. The company has a market cap of $28.41 billion, a price-to-earnings ratio of 45.06, a PEG ratio of 1.42 and a beta of 1.42.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s 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 research analysts forecast that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s dividend payout ratio is presently 51.28%.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction on 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. This represents a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $3,691,152.64. Following the completion of the transaction, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPR. JPMorgan Chase & Co. increased their price objective on Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Barclays set a $179.00 price objective on Tapestry and gave the company an “overweight” rating in a report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Finally, The Goldman Sachs Group set a $166.00 price objective on Tapestry in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.22.

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.