Tapestry, Inc. $TPR Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its stake in Tapestry, Inc. (NYSE:TPR) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 311,297 shares of the luxury accessories retailer’s stock after selling 22,047 shares during the period. Empowered Funds LLC owned approximately 0.15% of Tapestry worth $43,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TPR. Acumen Wealth Advisors LLC purchased a new stake in Tapestry during the fourth quarter worth $28,000. Triumph Capital Management acquired a new stake in Tapestry in the third quarter valued at $29,000. Steph & Co. increased its position in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after buying an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Tapestry in the fourth quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Tapestry during the 4th quarter worth $32,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR opened at $147.52 on Tuesday. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. The company’s 50 day simple moving average is $142.78 and its 200 day simple moving average is $142.69. The company has a market capitalization of $29.80 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.30 and a beta of 1.43. 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 released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the company earned $1.03 EPS. Tapestry’s revenue for the quarter 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, sell-side analysts predict that Tapestry, Inc. will post 6.97 EPS for the current year.

Tapestry Dividend Announcement

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

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm’s 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 $86,701,954.26. This trade 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. Corporate insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TPR shares. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Raymond James Financial reaffirmed an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a report on Thursday, April 23rd. Barclays increased 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. Finally, BTIG Research reissued a “buy” rating and set a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.