Tapestry, Inc. $TPR Shares Sold by Renaissance Group LLC

Renaissance Group LLC decreased its position in shares of Tapestry, Inc. (NYSE:TPR) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 316,766 shares of the luxury accessories retailer’s stock after selling 12,122 shares during the quarter. Tapestry makes up about 1.6% of Renaissance Group LLC’s holdings, making the stock its 7th largest position. Renaissance Group LLC’s holdings in Tapestry were worth $40,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Triumph Capital Management acquired a new stake in shares of Tapestry in the 3rd quarter valued at about $29,000. Steph & Co. increased its position in Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after buying an additional 130 shares during the period. Flagship Harbor Advisors LLC acquired a new position in Tapestry during the fourth quarter worth approximately $31,000. Cornerstone Planning Group LLC lifted its stake in Tapestry by 2,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock valued at $36,000 after buying an additional 272 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of Tapestry by 157.4% in the fourth 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 period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TPR shares. Sanford C. Bernstein restated an “outperform” rating and set a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and upped their price target for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Citigroup increased their price target on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, BNP Paribas Exane initiated coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price for the company. Two investment 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 company. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $161.22.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction that occurred 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Tapestry Stock Down 3.2%

TPR stock opened at $140.90 on Thursday. The stock has a market capitalization of $28.47 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The company has a fifty day moving average of $142.10 and a 200-day moving average of $137.25. 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, Inc. has a one year low of $78.59 and a one year high of $161.97.

Tapestry (NYSE:TPR) last issued its quarterly 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 business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

About Tapestry

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.