Jupiter Asset Management Ltd. Cuts Holdings in Tapestry, Inc. $TPR

Jupiter Asset Management Ltd. trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 97.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,788 shares of the luxury accessories retailer’s stock after selling 253,121 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Tapestry were worth $740,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Northwest Wealth Management LLC increased 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 valued at $315,000 after buying an additional 82 shares during the period. Fulton Bank N.A. increased its holdings in Tapestry by 2.8% during the fourth quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock valued at $405,000 after buying an additional 87 shares during the period. CVA Family Office LLC increased its holdings in Tapestry by 23.4% during the fourth quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer’s stock valued at $60,000 after buying an additional 89 shares during the period. Clark Financial Services Group Inc. BD increased its holdings in Tapestry by 1.8% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer’s stock valued at $733,000 after buying an additional 103 shares during the period. Finally, Essex Financial Services Inc. increased its holdings in Tapestry by 3.5% during the third quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after buying an additional 113 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TPR shares. UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $142.00 to $187.00 in a report on Friday, May 8th. Telsey Advisory Group lifted their price objective on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. TD Cowen reissued a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Barclays set a $179.00 price objective on shares of Tapestry and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Zacks Research raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $160.67.

Tapestry Price Performance

NYSE TPR opened at $145.40 on Friday. The firm’s fifty day simple moving average is $142.31 and its two-hundred day simple moving average is $134.90. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 12-month low of $76.92 and a 12-month high of $161.97. The firm has a market capitalization of $29.38 billion, a P/E ratio of 46.60, a P/E/G ratio of 1.48 and a beta of 1.45.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.79 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were 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. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by insiders.

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.