Y Intercept Hong Kong Ltd Purchases New Position in Tapestry, Inc. $TPR

Y Intercept Hong Kong Ltd purchased a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the first quarter, Holdings Channel.com reports. The firm purchased 43,882 shares of the luxury accessories retailer’s stock, valued at approximately $6,192,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after purchasing an additional 348,334 shares during the last quarter. Schroder Investment Management Group grew its holdings in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after buying an additional 203,764 shares in the last quarter. AQR Capital Management LLC raised its position in Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after buying an additional 760,646 shares during the last quarter. Finally, Morgan Stanley raised its position in Tapestry by 8.9% in the 4th quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock valued at $425,118,000 after buying an additional 270,973 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on TPR shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Weiss Ratings downgraded shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Argus set a $165.00 price target on shares of Tapestry in a research report on Thursday, March 12th. Raymond James Financial restated an “outperform” rating and set a $165.00 price target on shares of Tapestry in a report on Thursday, April 23rd. Finally, Evercore set a $175.00 price objective on shares of Tapestry in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.65.

Tapestry Stock Down 0.0%

TPR opened at $144.19 on Friday. Tapestry, Inc. has a twelve month low of $86.68 and a twelve month high of $161.97. The company’s 50-day moving average price is $141.69 and its two-hundred day moving average price is $141.05. The stock has a market cap of $29.13 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 1.34 and a beta of 1.43. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.40 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s payout ratio is presently 51.28%.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s 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 in the company, valued at $86,701,954.26. This 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. 1.32% of the stock is owned by corporate insiders.

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.