SteelPeak Wealth LLC Has $2.92 Million Stock Holdings in Tapestry, Inc. $TPR

SteelPeak Wealth LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 41.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,705 shares of the luxury accessories retailer’s stock after acquiring an additional 6,109 shares during the quarter. SteelPeak Wealth LLC’s holdings in Tapestry were worth $2,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Allspring Global Investments Holdings LLC increased its holdings in Tapestry by 221.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 46,470 shares of the luxury accessories retailer’s stock worth $6,708,000 after purchasing an additional 32,032 shares in the last quarter. Independent Financial Group LLC bought a new stake in shares of Tapestry in the 1st quarter worth $242,000. Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of Tapestry in the 1st quarter worth $27,966,000. D.A. Davidson & CO. raised its holdings in shares of Tapestry by 50.5% in the first quarter. D.A. Davidson & CO. now owns 5,343 shares of the luxury accessories retailer’s stock valued at $754,000 after purchasing an additional 1,792 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Tapestry by 12.9% during the first quarter. Illinois Municipal Retirement Fund now owns 114,384 shares of the luxury accessories retailer’s stock valued at $16,141,000 after purchasing an additional 13,033 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry 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 sale, 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 filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the completion of the sale, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TPR. Morgan Stanley restated an “overweight” rating and set a $164.00 price target on shares of Tapestry in a report on Monday, July 6th. Weiss Ratings lowered shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. BTIG Research reissued a “buy” rating and set a $180.00 target price on shares of Tapestry in a research report on Wednesday, June 10th. Citigroup boosted their target price on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird increased their price target on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Two equities research 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. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Stock Performance

Shares of TPR stock opened at $141.43 on Friday. The firm has a market cap of $28.57 billion, a price-to-earnings ratio of 45.33, a P/E/G ratio of 1.32 and a beta of 1.43. 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, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The firm’s 50-day simple moving average is $141.43 and its two-hundred day simple moving average is $142.04.

Tapestry (NYSE:TPR) last released its earnings results 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 firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm earned $1.03 EPS. The company’s 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. As a group, equities analysts forecast that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Announces Dividend

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

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.