Hantz Financial Services Inc. Cuts Holdings in Tapestry, Inc. $TPR

Key Points

• Hantz Financial Services cut its Tapestry stake by 19.1% in the fourth quarter, selling 12,600 shares and leaving it with 53,449 shares valued at about $6.83 million.
• Wall Street remains upbeat on Tapestry, with most analysts rating it a Buy or Strong Buy and an average price target of $160.67, despite a recent downgrade from Weiss Ratings.
• Tapestry reported strong earnings, beating estimates with $1.66 EPS on $1.92 billion in revenue, and it also announced a quarterly dividend of $0.40 per share.

Hantz Financial Services Inc. reduced its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,449 shares of the luxury accessories retailer's stock after selling 12,600 shares during the quarter. Hantz Financial Services Inc.'s holdings in Tapestry were worth $6,829,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in TPR. State Street Corp raised its position in shares of Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock worth $1,044,995,000 after buying an additional 1,494,193 shares during the period. Voloridge Investment Management LLC raised its position in shares of Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock worth $213,592,000 after buying an additional 1,162,442 shares during the period. Two Sigma Investments LP raised its position in shares of Tapestry by 426.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock worth $127,092,000 after buying an additional 909,433 shares during the period. Barclays PLC increased its holdings in Tapestry by 191.9% in the 3rd 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 in the last quarter. Finally, Schroder Investment Management Group increased its holdings in Tapestry by 21.1% in the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer's stock valued at $549,046,000 after purchasing an additional 846,553 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent research reports. Sanford C. Bernstein reiterated an "outperform" rating and issued a $170.00 price target on shares of Tapestry in a report on Friday, February 6th. Telsey Advisory Group increased their price target on Tapestry to $150.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Weiss Ratings downgraded Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Barclays set a $179.00 price target on Tapestry and gave the company an "overweight" rating in a report on Friday, February 6th. Finally, BNP Paribas Exane initiated coverage on Tapestry in a report on Friday, February 13th. They issued an "outperform" rating and a $176.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and an average target price of $160.67.

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated Wednesday, May 13th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company's stock.

Tapestry Stock Up 0.1%

Shares of Tapestry stock opened at $138.65 on Tuesday. The business has a 50-day moving average of $142.25 and a 200-day moving average of $134.03. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The company has a market capitalization of $28.01 billion, a PE ratio of 44.44, a P/E/G ratio of 1.41 and a beta of 1.45. Tapestry, Inc. has a 1-year low of $76.29 and a 1-year high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company's revenue 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, equities analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 5th. Tapestry's dividend payout ratio (DPR) is 51.28%.

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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