Mach 1 Financial Group LLC Takes $721,000 Position in Tapestry, Inc. $TPR

Mach 1 Financial Group LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 5,645 shares of the luxury accessories retailer’s stock, valued at approximately $721,000.

A number of other large investors have also recently made changes to their positions in TPR. State Street Corp lifted its stake in shares of Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after buying an additional 1,494,193 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Tapestry by 21.1% during the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock valued at $549,046,000 after buying an additional 846,553 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Tapestry by 21.4% during the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after buying an additional 760,646 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Tapestry by 7.6% during the 3rd quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock valued at $325,034,000 after buying an additional 203,520 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Tapestry by 7.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,274,823 shares of the luxury accessories retailer’s stock valued at $257,555,000 after buying an additional 159,515 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Up 2.7%

Shares of TPR stock opened at $139.45 on Friday. The stock has a market cap of $28.17 billion, a P/E ratio of 44.69, a PEG ratio of 1.38 and a beta of 1.45. Tapestry, Inc. has a 52 week low of $76.29 and a 52 week high of $161.97. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The company’s fifty day simple moving average is $142.47 and its two-hundred day simple moving average is $133.57.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS 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 business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a dividend of $0.40 per share. 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 51.28%.

Analyst Ratings Changes

TPR has been the topic of a number of analyst reports. Citigroup lifted their target price on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group set a $166.00 price target on Tapestry in a report on Friday, February 6th. Zacks Research raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. UBS Group raised Tapestry from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $142.00 to $187.00 in a report on Friday, May 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $170.00 price target on shares of Tapestry in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $160.67.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Tapestry Company 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.