Tapestry, Inc. $TPR Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC cut its stake in shares of Tapestry, Inc. (NYSE:TPR) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,488 shares of the luxury accessories retailer’s stock after selling 3,610 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Tapestry were worth $4,161,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TPR. Schroder Investment Management Group lifted its holdings in shares of Tapestry by 92.8% during the fourth 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 purchasing an additional 4,500,850 shares during the last quarter. Norges Bank purchased a new position in Tapestry in the 4th quarter worth about $345,349,000. Wellington Management Group LLP increased its stake in Tapestry by 632.3% in the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock worth $302,368,000 after purchasing an additional 2,043,353 shares in the last quarter. State Street Corp raised its holdings in Tapestry by 19.3% during 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 buying an additional 1,494,193 shares during the period. Finally, Voloridge Investment Management LLC raised its holdings in Tapestry by 160.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock worth $213,592,000 after buying an additional 1,162,442 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on TPR. Citigroup raised their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Morgan Stanley restated an “overweight” rating and issued a $164.00 price target on shares of Tapestry in a research report on Monday, July 6th. 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. Finally, UBS Group lifted their price objective on shares of Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.88.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the company’s 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 transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. 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. Insiders own 1.32% of the company’s stock.

Tapestry Stock Up 0.9%

NYSE:TPR traded up $1.20 on Friday, hitting $141.12. 1,413,179 shares of the company’s stock traded hands, compared to its average volume of 2,637,429. The company has a market cap of $28.51 billion, a PE ratio of 45.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.43. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. 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 has a 50-day moving average price of $141.47 and a 200-day moving average price of $141.71.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.79 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’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. Equities analysts anticipate that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued 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%.

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.