Tapestry, Inc. $TPR Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,200 shares of the luxury accessories retailer’s stock after selling 14,668 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Tapestry were worth $16,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. State Street Corp raised its position in shares of Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after acquiring an additional 1,494,193 shares during the period. Schroder Investment Management Group raised its position in shares of Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after acquiring an additional 846,553 shares during the period. AQR Capital Management LLC raised its position in shares of Tapestry by 21.4% in the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after acquiring an additional 760,646 shares during the period. Northern Trust Corp raised its position in shares of Tapestry by 7.6% in the third quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock worth $325,034,000 after acquiring an additional 203,520 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after acquiring an additional 1,750,566 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

In related news, CEO Joanne C. Crevoiserat sold 48,795 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Greco sold 14,245 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the sale, the director directly owned 21,302 shares of the company’s stock, valued at approximately $3,289,880.88. This represents a 40.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Barclays set a $179.00 price objective on shares of Tapestry and gave the stock an “overweight” rating in a research report on Friday, February 6th. Argus set a $165.00 price objective on shares of Tapestry in a research report on Thursday, March 12th. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and cut their target price for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. Finally, UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $142.00 to $187.00 in a research note on Friday, May 8th. Two research 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 stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $160.67.

Tapestry Stock Up 0.8%

Shares of NYSE TPR opened at $132.76 on Thursday. Tapestry, Inc. has a 12-month low of $76.29 and a 12-month high of $161.97. The stock has a market cap of $26.82 billion, a PE ratio of 42.55, a P/E/G ratio of 1.34 and a beta of 1.45. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The company has a 50-day moving average of $144.48 and a 200 day moving average of $132.72.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) 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 company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Tapestry’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. As a group, sell-side analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s dividend payout ratio is currently 51.28%.

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.