Capricorn Fund Managers Ltd Invests $3.39 Million in Tapestry, Inc. $TPR

Capricorn Fund Managers Ltd purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 24,000 shares of the luxury accessories retailer’s stock, valued at approximately $3,387,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Schroder Investment Management Group increased its stake 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 acquiring an additional 4,500,850 shares during the last quarter. Norges Bank purchased a new stake in Tapestry in the fourth quarter valued at $345,349,000. Wellington Management Group LLP lifted its stake in shares of 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 valued at $302,368,000 after purchasing an additional 2,043,353 shares during the last quarter. State Street Corp lifted its stake in shares of Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of 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 purchasing 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

TPR has been the subject of a number of recent analyst reports. Argus set a $165.00 price objective on Tapestry in a research report on Thursday, March 12th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. BTIG Research reaffirmed a “buy” rating and set a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Finally, Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.65.

Tapestry Price Performance

TPR opened at $146.32 on Wednesday. The stock’s 50-day moving average price is $142.05 and its 200 day moving average price is $140.73. Tapestry, Inc. has a 12-month low of $84.39 and a 12-month high of $161.97. The firm has a market cap of $29.56 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 1.49 and a beta of 1.42. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

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 the consensus estimate of $1.30 by $0.36. The company 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%.Tapestry’s revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

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

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’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 value of $3,691,152.64. Following the completion of the transaction, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is available at 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 business’s 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 completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by corporate insiders.

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.