Gotham Asset Management LLC Decreases Stock Holdings in Tapestry, Inc. $TPR

Gotham Asset Management LLC reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 3.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 576,727 shares of the luxury accessories retailer’s stock after selling 23,490 shares during the period. Tapestry accounts for about 0.3% of Gotham Asset Management LLC’s portfolio, making the stock its 22nd largest holding. Gotham Asset Management LLC owned approximately 0.28% of Tapestry worth $73,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPR. Acumen Wealth Advisors LLC purchased a new stake in Tapestry in the 4th quarter valued at $28,000. Steph & Co. raised its holdings in shares of 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 acquiring an additional 130 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Tapestry during the 4th quarter valued at about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Tapestry in the fourth quarter valued at about $32,000. Finally, Triumph Capital Management purchased a new stake in shares of Tapestry in the third quarter valued at about $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $145.92 on Thursday. Tapestry, Inc. has a 1 year low of $83.00 and a 1 year high of $161.97. The stock has a market capitalization of $29.48 billion, a PE ratio of 46.77, a PEG ratio of 1.51 and a beta of 1.42. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The stock has a 50-day simple moving average of $142.64 and a 200-day simple moving average of $138.65.

Tapestry (NYSE:TPR) last issued 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. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’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. On average, analysts predict that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s payout ratio is 51.28%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TPR shares. Raymond James Financial reiterated an “outperform” rating and issued a $165.00 target price on shares of Tapestry in a report on Thursday, April 23rd. Argus set a $165.00 target price on Tapestry in a research report on Thursday, March 12th. JPMorgan Chase & Co. raised their price objective on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Evercore set a $175.00 price target on Tapestry in a research report 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $165.12.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

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.