Sierra Summit Advisors LLC Buys New Position in Tapestry, Inc. $TPR

Sierra Summit Advisors LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,842 shares of the luxury accessories retailer’s stock, valued at approximately $1,130,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TPR. Cloud Capital Management LLC bought a new stake in shares of Tapestry during the 3rd quarter valued at about $26,000. Triumph Capital Management bought a new stake in shares of Tapestry during the 3rd quarter valued at about $29,000. Steph & Co. boosted its position in shares of Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Tapestry during the 4th quarter valued at about $31,000. Finally, Cornerstone Planning Group LLC boosted its position in shares of Tapestry by 2,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock valued at $36,000 after purchasing an additional 272 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Citigroup upped their target price on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. BNP Paribas Exane began coverage on Tapestry in a research note on Friday, February 13th. They set an “outperform” rating and a $176.00 price target on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 price target on shares of Tapestry in a research note on Thursday, April 23rd. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Robert W. Baird upped 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. 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 stock. Based on data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction that occurred on 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. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by company insiders.

Tapestry Stock Up 3.1%

TPR stock opened at $135.75 on Thursday. The stock’s 50 day simple moving average is $142.64 and its 200 day simple moving average is $133.37. Tapestry, Inc. has a fifty-two week low of $76.29 and a fifty-two week high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The company has a market cap of $27.43 billion, a P/E ratio of 43.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.45.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the business earned $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 6.95 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Tapestry’s dividend payout ratio is 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.