Smith Group Asset Management LLC Purchases 33,411 Shares of Tapestry, Inc. $TPR

Smith Group Asset Management LLC raised its position in shares of Tapestry, Inc. (NYSE:TPR) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,486 shares of the luxury accessories retailer’s stock after purchasing an additional 33,411 shares during the quarter. Tapestry accounts for about 2.4% of Smith Group Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Smith Group Asset Management LLC’s holdings in Tapestry were worth $47,058,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Woodline Partners LP lifted its stake in shares of Tapestry by 25.0% during the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after buying an additional 3,495 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Tapestry in the 1st quarter worth $493,000. Sivia Capital Partners LLC purchased a new stake in Tapestry in the 2nd quarter worth $602,000. Arrowstreet Capital Limited Partnership bought a new stake in Tapestry during the second quarter valued at about $6,307,000. Finally, Brown Advisory Inc. raised its holdings in Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after acquiring an additional 439 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TPR. Raymond James Financial reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of Tapestry in a research note on Thursday, April 23rd. BTIG Research reissued a “buy” rating and set a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. Barclays boosted their price target on Tapestry from $179.00 to $182.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Robert W. Baird upped their price target on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.50.

Tapestry Stock Up 2.4%

Shares of TPR stock opened at $150.90 on Wednesday. The company’s fifty day simple moving average is $143.17 and its two-hundred day simple moving average is $142.83. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The stock has a market cap of $30.49 billion, a P/E ratio of 48.36, a PEG ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business posted $1.03 earnings per share. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts predict that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry’s dividend payout ratio is presently 51.28%.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm’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 transaction of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 sale, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company’s stock.

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.