Teachers Retirement System of The State of Kentucky Has $33.78 Million Holdings in Tapestry, Inc. $TPR

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 17.6% during the first quarter, HoldingsChannel.com reports. The fund owned 239,399 shares of the luxury accessories retailer’s stock after selling 51,000 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Tapestry were worth $33,782,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. LGT Fund Management Co Ltd. bought a new position in shares of Tapestry in the first quarter valued at approximately $3,739,000. Diversify Wealth Management LLC bought a new stake in shares of Tapestry during the 1st quarter worth $818,000. Citizens Financial Group Inc. RI boosted its holdings in shares of Tapestry by 11.8% during the 1st quarter. Citizens Financial Group Inc. RI now owns 3,659 shares of the luxury accessories retailer’s stock worth $516,000 after buying an additional 387 shares during the period. Fifth Third Bancorp grew its stake in Tapestry by 300.1% in the 1st quarter. Fifth Third Bancorp now owns 66,952 shares of the luxury accessories retailer’s stock valued at $9,448,000 after buying an additional 50,217 shares during the last quarter. Finally, American Trust bought a new position in Tapestry in the 1st quarter worth $468,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TPR shares. UBS Group lifted their price objective on Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. increased their target price on Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $164.00 price target on shares of Tapestry in a research report on Monday, July 6th. Weiss Ratings lowered Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.88.

Tapestry Price Performance

Shares of Tapestry stock opened at $141.12 on Monday. The firm has a market cap of $28.51 billion, a P/E ratio of 45.23, a price-to-earnings-growth ratio of 1.29 and a beta of 1.43. The firm’s 50-day simple moving average is $141.47 and its 200-day simple moving average is $141.79. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month 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 issued its quarterly earnings data 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 company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated 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 in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

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.