Edgestream Partners L.P. Has $7.41 Million Stake in Tapestry, Inc. $TPR

Edgestream Partners L.P. lifted its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 84.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,528 shares of the luxury accessories retailer's stock after buying an additional 23,975 shares during the period. Edgestream Partners L.P.'s holdings in Tapestry were worth $7,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC bought a new position in shares of Tapestry in the fourth quarter worth $28,000. Triumph Capital Management bought a new stake in Tapestry during the third quarter worth about $29,000. Steph & Co. grew its stake in Tapestry by 128.7% during the fourth 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 acquired a new stake in Tapestry during the fourth quarter worth about $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Tapestry in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPR. Citigroup boosted their target price on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Morgan Stanley reiterated an "overweight" rating and set a $164.00 price target on shares of Tapestry in a research report on Monday, July 6th. 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 boosted their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Finally, Zacks Research cut Tapestry from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus target price of $173.50.

Tapestry Stock Performance

NYSE TPR opened at $152.34 on Friday. The firm's fifty day moving average price is $143.71 and its two-hundred day moving average price is $143.07. The stock has a market cap of $30.78 billion, a PE ratio of 48.83, a PEG ratio of 1.37 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. Tapestry, Inc. has a fifty-two week low of $92.62 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.Tapestry'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 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts expect that Tapestry, Inc. will post 6.97 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry's dividend payout ratio (DPR) is presently 51.28%.

Insider Transactions at Tapestry

In related news, 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 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. 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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