13,036 Shares in Tapestry, Inc. $TPR Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) in the first quarter, Holdings Channel reports. The fund bought 13,036 shares of the luxury accessories retailer’s stock, valued at approximately $1,840,000.

Other large investors have also recently made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new stake in shares of Tapestry in the 4th quarter worth approximately $28,000. Steph & Co. raised its stake in Tapestry by 128.7% during 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 during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry during the fourth quarter valued at $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Tapestry in the fourth quarter worth $32,000. Finally, Triumph Capital Management purchased a new stake in shares of Tapestry in the third quarter worth $29,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TPR. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Sanford C. Bernstein reissued an “outperform” rating and set a $180.00 price target on shares of Tapestry in a research report on Tuesday, June 2nd. Robert W. Baird boosted their price objective on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. UBS Group upped their price objective on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Barclays increased their target price on Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $173.50.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on 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 $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction on 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Performance

Shares of NYSE TPR opened at $155.60 on Tuesday. The firm’s 50-day moving average price is $144.33 and its 200-day moving average price is $143.35. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The company has a market cap of $31.44 billion, a PE ratio of 49.87, a PEG ratio of 1.38 and a beta of 1.43. Tapestry, Inc. has a 52-week low of $92.62 and a 52-week high of $161.97.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.36. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 6.97 EPS for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Tapestry’s payout ratio is currently 51.28%.

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.