Patton Fund Management Inc. Buys 17,363 Shares of Tapestry, Inc. $TPR

Patton Fund Management Inc. grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 47.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,170 shares of the luxury accessories retailer’s stock after acquiring an additional 17,363 shares during the period. Patton Fund Management Inc.’s holdings in Tapestry were worth $6,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPR. Massachusetts Financial Services Co. MA boosted its holdings in Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after buying an additional 1,750,566 shares during the period. State Street Corp grew its holdings in Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after acquiring an additional 1,494,193 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after buying an additional 1,162,442 shares during the period. Two Sigma Investments LP increased its position in shares of Tapestry by 426.8% during the third quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer’s stock valued at $127,092,000 after buying an additional 909,433 shares during the period. Finally, Barclays PLC increased its position in shares of Tapestry by 191.9% during the third quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer’s stock valued at $146,891,000 after buying an additional 852,908 shares during the period. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 0.3%

TPR opened at $149.84 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a 1-year low of $61.60 and a 1-year high of $161.97. The company has a market capitalization of $30.34 billion, a PE ratio of 61.92, a PEG ratio of 1.80 and a beta of 1.59. The firm’s 50 day simple moving average is $147.44 and its two-hundred day simple moving average is $128.57.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm earned $2.00 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is 66.12%.

Insider Activity at Tapestry

In other Tapestry news, Director Anne Gates sold 6,498 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total transaction of $999,327.42. Following the transaction, the director owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. This trade represents a 22.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This trade represents a 6.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,956 shares of company stock worth $25,297,262 over the last ninety days. 1.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TPR has been the topic of several research analyst reports. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and reduced their price target for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. Wells Fargo & Company upped their price objective on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. BNP Paribas Exane assumed coverage on shares of Tapestry in a report on Friday, February 13th. They set an “outperform” rating and a $176.00 price target on the stock. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $151.06.

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.