10,300 Shares in Tapestry, Inc. $TPR Bought by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System opened a new position in Tapestry during the first quarter, buying 10,300 shares worth about $1.45 million.
• Wall Street remains broadly positive on Tapestry, with analysts issuing multiple Buy/Outperform ratings and a consensus target price of about $167.65.
• Tapestry posted a strong quarterly beat, reporting $1.66 EPS on $1.92 billion in revenue, both above expectations, while also paying a $0.40 quarterly dividend.

Louisiana State Employees Retirement System bought a new stake in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,300 shares of the luxury accessories retailer's stock, valued at approximately $1,453,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPR. Smartleaf Asset Management LLC increased its holdings in shares of Tapestry by 2.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer's stock valued at $477,000 after acquiring an additional 73 shares during the last quarter. Northwest Wealth Management LLC lifted its stake in Tapestry by 3.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer's stock worth $315,000 after purchasing an additional 82 shares during the last quarter. Fulton Bank N.A. lifted its stake in Tapestry by 2.8% during the fourth quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer's stock worth $405,000 after purchasing an additional 87 shares during the last quarter. CVA Family Office LLC boosted its holdings in Tapestry by 23.4% in the fourth quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer's stock valued at $60,000 after purchasing an additional 89 shares in the last quarter. Finally, Clark Financial Services Group Inc. BD boosted its holdings in Tapestry by 1.8% in the fourth quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer's stock valued at $733,000 after purchasing an additional 103 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research analyst reports. Citigroup raised their price objective on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Raymond James Financial restated an "outperform" rating and issued a $165.00 target price on shares of Tapestry in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their target price on shares of Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Robert W. Baird lifted their price target on shares of Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $180.00 price target on shares of Tapestry in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $167.65.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction 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 transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by corporate insiders.

Tapestry Trading Up 0.1%

TPR opened at $144.19 on Friday. 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, Inc. has a 52 week low of $86.68 and a 52 week high of $161.97. The business's 50 day moving average is $141.73 and its two-hundred day moving average is $141.03. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.43.

Tapestry (NYSE:TPR - Get Free Report) last posted 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 business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company's revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts predict that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors 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 1.1%. Tapestry's dividend payout ratio is currently 51.28%.

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.

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