Baer Investment Advisory LLC Makes New $1.06 Million Investment in Tapestry, Inc. $TPR

Key Points

• Baer Investment Advisory LLC opened a new position in Tapestry during the first quarter, buying 7,498 shares worth about $1.06 million.
• Analysts remain largely positive on Tapestry, with several recent price target increases; the stock currently carries a Moderate Buy consensus rating and an average target price of $167.65.
• Tapestry reported stronger-than-expected quarterly results, including $1.66 EPS and $1.92 billion in revenue, while also paying a quarterly dividend of $0.40 per share.

Baer Investment Advisory LLC bought a new stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,498 shares of the luxury accessories retailer's stock, valued at approximately $1,058,000.

A number of other institutional investors have also recently made changes to their positions in TPR. Acumen Wealth Advisors LLC bought a new position in shares of Tapestry during the 4th quarter valued at $28,000. Triumph Capital Management purchased a new stake in Tapestry during the third quarter valued at $29,000. Steph & Co. boosted its position in Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry in the fourth quarter worth about $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore set a $175.00 price target on shares of Tapestry in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, June 12th. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Raymond James Financial reiterated an "outperform" rating and issued a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Finally, UBS Group lifted their price target on shares of Tapestry from $187.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and a consensus target price of $167.65.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. The trade was 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 company insiders.

Tapestry Trading Down 0.0%

Shares of TPR opened at $144.19 on Friday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The firm has a market cap of $29.13 billion, a P/E ratio of 46.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.43. The company has a 50 day simple moving average of $141.69 and a two-hundred day simple moving average of $141.05. Tapestry, Inc. has a 1 year low of $86.68 and a 1 year high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business's revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry's 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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