Clifford Swan Investment Counsel LLC Sells 12,934 Shares of Tapestry, Inc. $TPR

Key Points

• Clifford Swan Investment Counsel LLC cut its Tapestry stake by 29.2% in the fourth quarter, selling 12,934 shares and leaving it with 31,387 shares worth about $4.01 million.
• Tapestry reported better-than-expected quarterly results, with EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected, while revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $161.22.

Clifford Swan Investment Counsel LLC trimmed its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 29.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,387 shares of the luxury accessories retailer's stock after selling 12,934 shares during the quarter. Clifford Swan Investment Counsel LLC's holdings in Tapestry were worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Tapestry during the fourth quarter valued at approximately $345,349,000. State Street Corp grew its stake in shares of Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock valued at $213,592,000 after purchasing an additional 1,162,442 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Tapestry by 426.8% during the third quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock valued at $127,092,000 after purchasing an additional 909,433 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Tapestry by 191.9% during the third quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer's stock valued at $146,891,000 after purchasing an additional 852,908 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

Shares of TPR stock opened at $140.60 on Friday. Tapestry, Inc. has a 52-week low of $77.79 and a 52-week high of $161.97. The stock has a market cap of $28.41 billion, a PE ratio of 45.06, a PEG ratio of 1.42 and a beta of 1.42. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The firm's 50 day moving average price is $142.03 and its two-hundred day moving average price is $136.16.

Tapestry (NYSE:TPR - Get Free Report) last announced 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. The firm had revenue of $1.92 billion for 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 business's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry's dividend payout ratio (DPR) is 51.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore set a $175.00 price target on shares of Tapestry in a research note on Friday, May 8th. Weiss Ratings cut shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Robert W. Baird increased their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Citigroup increased their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of Tapestry from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $161.22.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade 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. Company insiders own 1.32% of the company's stock.

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.

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