First Trust Advisors LP Purchases 35,318 Shares of Tapestry, Inc. $TPR

Key Points

• First Trust Advisors LP increased its Tapestry stake by 6.8% in the first quarter, buying 35,318 additional shares and bringing its total holding to 553,303 shares worth about $78.1 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 versus the $1.30 consensus and revenue of $1.92 billion, up 21.2% year over year; the company also reaffirmed FY2026 EPS guidance of 6.95.
• The company paid a quarterly dividend of $0.40 per share, and analysts remain generally positive overall, with an average rating of “Moderate Buy” and an average price target of $170.06.

First Trust Advisors LP increased its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 6.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 553,303 shares of the luxury accessories retailer's stock after acquiring an additional 35,318 shares during the period. First Trust Advisors LP owned about 0.27% of Tapestry worth $78,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Tapestry in the 4th quarter valued at about $8,109,000. Norges Bank acquired a new stake in shares of Tapestry in the fourth quarter worth $345,349,000. Keystone Investors PTE Ltd. raised its holdings in shares of Tapestry by 17.4% during the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock worth $8,001,000 after purchasing an additional 9,303 shares during the last quarter. Aberdeen Group plc grew its holdings in Tapestry by 34.7% during the fourth quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer's stock worth $6,078,000 after acquiring an additional 12,251 shares during the period. Finally, SEB Asset Management AB acquired a new position in shares of Tapestry in the 1st quarter valued at $59,525,000. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 2.7%

Tapestry stock opened at $142.82 on Friday. The company has a market capitalization of $28.86 billion, a PE ratio of 45.78, a price-to-earnings-growth ratio of 1.27 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. The firm has a 50 day moving average price of $142.46 and a 200 day moving average price of $142.49.

Tapestry (NYSE:TPR - Get Free Report) last posted 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 analyst estimates of $1.79 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business's revenue for the quarter 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 expect that Tapestry, Inc. will post 6.97 earnings per share for the current year.

Tapestry Announces Dividend

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

Insider Activity

In related news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's 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 transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Zacks Research downgraded Tapestry from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Morgan Stanley reissued an "overweight" rating and issued a $164.00 price target on shares of Tapestry in a research note on Monday, July 6th. Finally, Robert W. Baird boosted their price target on shares of Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $170.06.

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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