Geode Capital Management LLC Acquires 203,764 Shares of Tapestry, Inc. $TPR

Key Points

• Geode Capital Management increased its Tapestry stake by 3.6% in the fourth quarter, adding 203,764 shares and bringing its total holding to 5.9 million shares worth about $753.5 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 beating estimates and revenue of $1.92 billion topping expectations; revenue also rose 21.2% year over year.
• The company declared a quarterly dividend of $0.40 per share, while analysts remain generally bullish with a consensus rating of “Moderate Buy” and an average target price of $160.67.

Geode Capital Management LLC raised its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,912,917 shares of the luxury accessories retailer's stock after acquiring an additional 203,764 shares during the period. Geode Capital Management LLC owned about 2.92% of Tapestry worth $753,482,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of TPR. Cloud Capital Management LLC bought a new stake in Tapestry in the 3rd quarter valued at approximately $26,000. Triumph Capital Management bought a new stake in Tapestry in the 3rd quarter valued at approximately $29,000. Steph & Co. lifted its stake in Tapestry by 128.7% in the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after acquiring an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Tapestry in the 4th quarter valued at approximately $31,000. Finally, Cornerstone Planning Group LLC lifted its stake in Tapestry by 2,720.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after acquiring an additional 272 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Stock Up 0.0%

TPR stock opened at $145.40 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $29.38 billion, a PE ratio of 46.60, a PEG ratio of 1.48 and a beta of 1.45. Tapestry, Inc. has a 1-year low of $76.92 and a 1-year high of $161.97. The business's 50 day simple moving average is $142.31 and its 200 day simple moving average is $134.90.

Tapestry (NYSE:TPR - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm's revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts anticipate that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

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

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business'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 transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The transaction was disclosed in a legal filing 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 business'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 value of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at $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. 1.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BNP Paribas Exane assumed coverage on Tapestry in a research note on Friday, February 13th. They issued an "outperform" rating and a $176.00 target price on the stock. TD Cowen reiterated a "buy" rating on shares of Tapestry in a research note on Tuesday, February 10th. Barclays set a $179.00 price objective on Tapestry and gave the stock an "overweight" rating in a research note on Friday, February 6th. The Goldman Sachs Group set a $166.00 price objective on Tapestry in a research note on Friday, February 6th. Finally, Evercore set a $175.00 price objective on Tapestry in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and an average target price of $160.67.

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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