Edgestream Partners L.P. Buys 23,975 Shares of Tapestry, Inc. $TPR

Edgestream Partners L.P. grew its stake in Tapestry, Inc. (NYSE:TPR) by 84.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 52,528 shares of the luxury accessories retailer’s stock after buying an additional 23,975 shares during the period. Edgestream Partners L.P.’s holdings in Tapestry were worth $7,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPR. Acumen Wealth Advisors LLC bought a new stake in Tapestry in the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new position in Tapestry during the 3rd quarter worth approximately $29,000. Steph & Co. raised its holdings in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Tapestry in the 4th quarter worth approximately $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Tapestry in the 4th quarter worth approximately $32,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE:TPR opened at $152.34 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. The company has a fifty day moving average of $143.71 and a 200-day moving average of $143.07. The firm has a market capitalization of $30.78 billion, a P/E ratio of 48.83, a P/E/G ratio of 1.37 and a beta of 1.43.

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

Tapestry Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio is currently 51.28%.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction dated 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 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. 1.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TPR shares. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Barclays upped their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Sanford C. Bernstein reiterated an “outperform” rating and set a $180.00 price target on shares of Tapestry in a report on Tuesday, June 2nd. Finally, Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.50.

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.