Ritholtz Wealth Management Grows Stock Position in Tapestry, Inc. $TPR

Ritholtz Wealth Management increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,116 shares of the luxury accessories retailer’s stock after purchasing an additional 4,898 shares during the quarter. Ritholtz Wealth Management’s holdings in Tapestry were worth $10,882,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TPR. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry in the 4th quarter valued at about $28,000. Triumph Capital Management acquired a new position in shares of Tapestry during the third quarter worth about $29,000. Steph & Co. increased its stake in shares of 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 purchased a new stake in shares of Tapestry during the fourth quarter worth approximately $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Tapestry in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE TPR opened at $149.51 on Thursday. The stock’s 50-day simple moving average is $142.53 and its 200-day simple moving average is $139.92. The firm has a market capitalization of $30.21 billion, a PE ratio of 47.92, a price-to-earnings-growth ratio of 1.53 and a beta of 1.42. Tapestry, Inc. has a fifty-two week low of $84.12 and a fifty-two week high of $161.97. 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 (NYSE:TPR) last announced 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 firm 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 firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business 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 payout ratio is currently 51.28%.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. BTIG Research reissued a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Evercore set a $175.00 price objective on shares of Tapestry in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.65.

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.