Vest Financial LLC Lowers Stake in Tapestry, Inc. $TPR

Vest Financial LLC cut its position in shares of Tapestry, Inc. (NYSE:TPR) by 51.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,189 shares of the luxury accessories retailer’s stock after selling 19,491 shares during the quarter. Vest Financial LLC’s holdings in Tapestry were worth $2,324,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. State Street Corp boosted 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 last quarter. Schroder Investment Management Group boosted 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 last quarter. AQR Capital Management LLC boosted 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 last quarter. Northern Trust Corp boosted 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 last quarter. Finally, Massachusetts Financial Services Co. MA boosted 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 last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 39,815 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the transaction, the chief executive officer directly owned 120,578 shares of the company’s stock, valued at approximately $18,248,274.52. The trade was a 24.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at approximately $103,947,659.91. The trade was a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 164,956 shares of company stock valued at $25,297,262. 1.32% of the stock is owned by company insiders.

Tapestry Trading Down 1.6%

Shares of TPR stock opened at $141.61 on Thursday. The firm’s 50 day moving average price is $147.46 and its two-hundred day moving average price is $131.42. Tapestry, Inc. has a fifty-two week low of $67.22 and a fifty-two week high of $161.97. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The stock has a market cap of $28.67 billion, a price-to-earnings ratio of 58.52, a price-to-earnings-growth ratio of 1.76 and a beta of 1.59.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the company posted $2.00 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, analysts anticipate that Tapestry, Inc. will post 6.45 EPS for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, March 6th. Tapestry’s payout ratio is presently 66.12%.

Wall Street Analyst Weigh In

TPR has been the topic of several research analyst reports. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and decreased their target price for the stock from $142.00 to $138.00 in a research report on Wednesday, January 14th. Robert W. Baird raised their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a research report on Friday, February 6th. Finally, BTIG Research raised their target price on shares of Tapestry from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.89.

Tapestry Company 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.