Tapestry, Inc. $TPR Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its position in shares of Tapestry, Inc. (NYSE:TPR) by 37.1% in the first quarter, Holdings Channel.com reports. The fund owned 18,310 shares of the luxury accessories retailer’s stock after selling 10,812 shares during the quarter. Sterling Capital Management LLC’s holdings in Tapestry were worth $2,584,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Woodline Partners LP raised its holdings in Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after buying an additional 3,495 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Tapestry in the first quarter worth $493,000. Sivia Capital Partners LLC purchased a new position in shares of Tapestry in the 2nd quarter valued at $602,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Tapestry during the 2nd quarter valued at $6,307,000. Finally, Brown Advisory Inc. lifted its holdings in shares of Tapestry by 13.8% during the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after acquiring an additional 439 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 price target on shares of Tapestry in a report on Tuesday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $180.00 target price on shares of Tapestry in a research report on Wednesday, June 10th. UBS Group increased their target price on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Robert W. Baird raised their target price on Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.65.

Tapestry Stock Performance

NYSE:TPR opened at $146.24 on Monday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The firm has a 50-day moving average of $142.32 and a two-hundred day moving average of $140.33. The stock has a market cap of $29.55 billion, a P/E ratio of 46.87, a PEG ratio of 1.48 and a beta of 1.42. Tapestry, Inc. has a 1-year low of $84.39 and a 1-year high of $161.97.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The company’s revenue for the quarter 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, research analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders 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 yield of 1.1%. Tapestry’s payout ratio is currently 51.28%.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction 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 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 trade represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Tapestry 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.