Tapestry, Inc. $TPR Shares Bought by Vestcor Inc

Vestcor Inc grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 72.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,774 shares of the luxury accessories retailer’s stock after acquiring an additional 5,783 shares during the quarter. Vestcor Inc’s holdings in Tapestry were worth $1,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Triumph Capital Management acquired a new position in shares of Tapestry during the 3rd quarter valued at about $29,000. Steph & Co. increased its stake 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 acquiring an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Tapestry during the 4th quarter valued at about $31,000. Cornerstone Planning Group LLC increased its stake 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 acquiring an additional 272 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Tapestry by 157.4% during the 4th quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer’s stock valued at $41,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TPR shares. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Raymond James Financial reissued an “outperform” rating and set a $165.00 target price on shares of Tapestry in a research report on Thursday, April 23rd. Weiss Ratings downgraded shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. BTIG Research reissued a “buy” rating and set a $180.00 target price on shares of Tapestry in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $161.22.

Insider Buying and Selling

In other Tapestry 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 value of $3,691,152.64. Following the completion of the transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Down 0.1%

TPR opened at $139.95 on Monday. The firm has a 50 day moving average price of $141.90 and a 200 day moving average price of $136.42. The company has a market cap of $28.28 billion, a PE ratio of 44.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.42. Tapestry, Inc. has a 1 year low of $77.86 and a 1 year 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.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio is currently 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.