Dorsey Wright & Associates Grows Stake in Tapestry, Inc. $TPR

Dorsey Wright & Associates raised its holdings in Tapestry, Inc. (NYSE:TPR) by 2,262.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,297 shares of the luxury accessories retailer’s stock after buying an additional 91,264 shares during the quarter. Tapestry comprises 1.7% of Dorsey Wright & Associates’ investment portfolio, making the stock its 18th largest position. Dorsey Wright & Associates’ holdings in Tapestry were worth $13,447,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TPR. State Street Corp raised its holdings in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after purchasing an additional 348,334 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tapestry by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after buying an additional 203,764 shares during the period. AQR Capital Management LLC grew its position in shares of Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after buying an additional 760,646 shares during the period. Finally, Morgan Stanley increased its stake in shares of Tapestry by 8.9% in the 4th quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock worth $425,118,000 after acquiring an additional 270,973 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred 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 owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 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 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 company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TPR shares. Barclays lifted their target price on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup upped their price target on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Sanford C. Bernstein reiterated an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research note on Tuesday, June 2nd. Finally, BTIG Research reissued a “buy” rating and issued a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Trading Down 1.9%

Shares of TPR stock opened at $141.43 on Friday. 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 $92.62 and a 12-month high of $161.97. The stock has a market capitalization of $28.57 billion, a P/E ratio of 45.33, a P/E/G ratio of 1.32 and a beta of 1.43. The firm’s 50 day moving average is $141.43 and its 200 day moving average is $142.04.

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, beating analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during 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 business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts expect that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given 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 was Friday, June 5th. Tapestry’s dividend payout ratio (DPR) 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.