Dimensional Fund Advisors LP Reduces Stock Holdings in Tapestry, Inc. $TPR

Key Points

• Dimensional Fund Advisors LP trimmed its Tapestry stake by 2.4% in the first quarter, selling 63,987 shares and leaving it with 2.6 million shares valued at about $366.9 million.
• Several insiders sold shares, including CEO Joanne C. Crevoiserat and CEO Todd Kahn, both through disclosed transactions that reduced their ownership percentages.
• Analysts remain mostly positive on Tapestry after strong quarterly results, with the company beating earnings and revenue estimates and receiving a consensus “Moderate Buy” rating and a target price of $170.06.

Dimensional Fund Advisors LP reduced its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600,158 shares of the luxury accessories retailer's stock after selling 63,987 shares during the quarter. Dimensional Fund Advisors LP owned about 1.28% of Tapestry worth $366,860,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Acumen Wealth Advisors LLC acquired a new position in shares of Tapestry in the 4th quarter valued at $28,000. Triumph Capital Management purchased a new position in Tapestry during the third quarter worth about $29,000. Steph & Co. raised its stake in shares of Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after buying an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry in the fourth quarter worth $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company'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 of the company's stock, valued at approximately $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. Insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Evercore set a $175.00 price target on Tapestry in a research note on Friday, May 8th. Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Finally, Barclays lifted their price objective on Tapestry from $179.00 to $182.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $170.06.

Tapestry Trading Up 0.9%

Shares of TPR opened at $142.32 on Wednesday. The company has a market capitalization of $28.75 billion, a P/E ratio of 45.62, a P/E/G ratio of 1.29 and a beta of 1.43. 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 stock has a 50-day moving average price of $141.80 and a 200 day moving average price of $142.31. Tapestry, Inc. has a one year low of $92.62 and a one year high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 8.44% and a return on equity of 229.70%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts forecast that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

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