SummitTX Capital L.P. Invests $4.03 Million in Tapestry, Inc. $TPR

SummitTX Capital L.P. acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 28,535 shares of the luxury accessories retailer’s stock, valued at approximately $4,027,000.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp raised its stake in Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after buying an additional 348,334 shares in the last quarter. Schroder Investment Management Group lifted its holdings in 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 worth $1,194,678,000 after buying an additional 4,500,850 shares during the period. Geode Capital Management LLC boosted its position in Tapestry by 3.6% during 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 acquiring an additional 203,764 shares in the last quarter. AQR Capital Management LLC boosted its position in 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 acquiring an additional 760,646 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Tapestry by 8.9% in the 4th quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock valued at $425,118,000 after acquiring an additional 270,973 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Up 3.4%

Shares of NYSE:TPR opened at $147.52 on Tuesday. The business’s 50-day moving average is $142.78 and its 200 day moving average is $142.69. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. The firm has a market capitalization of $29.80 billion, a P/E ratio of 47.28, a P/E/G ratio of 1.30 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts predict that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is 51.28%.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. 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. 1.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, UBS Group boosted their price objective on shares of Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $170.06.

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.