NewEdge Advisors LLC Boosts Stake in Tapestry, Inc. $TPR

NewEdge Advisors LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 45.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,817 shares of the luxury accessories retailer’s stock after buying an additional 21,883 shares during the quarter. NewEdge Advisors LLC’s holdings in Tapestry were worth $9,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp increased its position in shares of Tapestry by 3.8% during the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock valued at $1,223,795,000 after acquiring an additional 348,334 shares during the last quarter. Schroder Investment Management Group boosted its position in Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after purchasing an additional 4,500,850 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $753,482,000 after purchasing an additional 203,764 shares during the period. Bank of America Corp DE grew its stake in Tapestry by 9.3% in the 1st quarter. Bank of America Corp DE now owns 5,041,935 shares of the luxury accessories retailer’s stock valued at $711,467,000 after purchasing an additional 429,338 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Tapestry by 21.4% during the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after purchasing an additional 760,646 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Key Tapestry News

Here are the key news stories impacting Tapestry this week:

• Positive Sentiment: Higher analyst price target: Telsey Advisory Group raised its Tapestry price target from $160 to $175 and maintained an “outperform” rating, implying additional upside from current levels. Benzinga report
• Positive Sentiment: Positive earnings expectations: Zacks said Tapestry has factors that could support an earnings beat in next week’s quarterly release, while another analysis highlights the potential for continued earnings growth. Strong results could reinforce the stock’s recent momentum. Zacks earnings expectations
• Positive Sentiment: Long-term growth appeal: Zacks identifies TPR as a potential long-term growth stock, supported by its style-score framework and expectations for market-beating performance. Zacks long-term growth analysis
• Positive Sentiment: AI initiatives may improve execution: Reports describe Tapestry’s efforts to build internal support for AI experimentation. Applying AI across areas such as customer engagement, merchandising and operations could create longer-term efficiency and brand advantages. Wall Street Journal AI culture article
• Neutral Sentiment: Retail backdrop remains supportive: Telsey’s Dana Telsey favors Tapestry alongside Ralph Lauren and off-price retailers, citing resilient consumers and product “newness.” The view is supportive but reflects broader retail optimism rather than a new company-specific result. Barron’s retail analysis
• Neutral Sentiment: Near-term catalyst and risk: Tapestry is expected to report earnings next Thursday. Investors will watch sales, margins and guidance to determine whether the optimistic forecasts are justified. Earnings announcement article

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction 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 directly owned 652,434 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, 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 Tapestry stock in a transaction on Tuesday, May 26th. The shares were 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 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 owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TPR shares. Robert W. Baird boosted their price target on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. BTIG Research reiterated a “buy” rating and issued a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Telsey Advisory Group lifted their price target on shares of Tapestry from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.44.

Tapestry Stock Performance

Shares of TPR stock opened at $162.46 on Monday. The stock has a market capitalization of $32.82 billion, a P/E ratio of 52.07, a PEG ratio of 1.47 and a beta of 1.43. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The firm’s 50 day moving average is $145.71 and its 200 day moving average is $144.14. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $163.94.

Tapestry (NYSE:TPR) last released 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 net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the business earned $1.03 EPS. Tapestry’s revenue was up 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Tapestry, Inc. will post 6.98 earnings per share for the current year.

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.