Anson Funds Management LP decreased its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 33.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the luxury accessories retailer's stock after selling 10,000 shares during the period. Anson Funds Management LP's holdings in Tapestry were worth $2,822,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Acumen Wealth Advisors LLC purchased a new position in Tapestry in the 4th quarter worth approximately $28,000. Steph & Co. raised its position in shares of 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 bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Tapestry in the fourth quarter worth $32,000. Finally, Triumph Capital Management purchased a new position in shares of Tapestry in the third quarter worth $29,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
Tapestry Stock Performance
Shares of NYSE:TPR opened at $150.17 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. The company has a market capitalization of $30.34 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 1.38 and a beta of 1.43. The firm's 50-day moving average is $143.46 and its 200 day moving average is $142.95.
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 (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.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 previous year, the business 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. Research analysts predict that Tapestry, Inc. will post 6.97 EPS for the current year.
Tapestry Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued 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 (DPR) is presently 51.28%.
Wall Street Analyst Weigh In
TPR has been the topic of several research analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $165.00 price target on shares of Tapestry in a research note on Thursday, April 23rd. Zacks Research lowered Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Barclays lifted their target price on Tapestry from $179.00 to $182.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Robert W. Baird boosted their target price on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley restated an "overweight" rating and set a $164.00 price target on shares of Tapestry in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $173.50.
Check Out Our Latest Stock Analysis on Tapestry
Insider Activity
In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer owned 652,434 shares of the company's stock, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 the firm's 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 transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was 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 insiders.
About Tapestry
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tapestry, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tapestry wasn't on the list.
While Tapestry currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
