Havemeyer Place LP Invests $2.01 Million in Tapestry, Inc. $TPR

Havemeyer Place LP purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,744 shares of the luxury accessories retailer's stock, valued at approximately $2,012,000.

A number of other hedge funds also recently modified their holdings of TPR. Woodline Partners LP raised its position in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer's stock worth $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Tapestry during the first quarter worth about $493,000. Sivia Capital Partners LLC acquired a new stake in shares of Tapestry during the second quarter worth about $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tapestry during the second quarter worth about $6,307,000. Finally, Brown Advisory Inc. raised its position in shares of Tapestry by 13.8% during the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer's stock worth $319,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Down 0.4%

NYSE:TPR opened at $139.95 on Friday. 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 company has a market cap of $28.28 billion, a PE ratio of 44.86, a PEG ratio of 1.42 and a beta of 1.42. Tapestry, Inc. has a 52-week low of $77.86 and a 52-week high of $161.97. The stock has a 50-day simple moving average of $141.90 and a 200 day simple moving average of $136.18.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. The firm 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 business's revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders 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 1.1%. The ex-dividend date is Friday, June 5th. Tapestry's dividend payout ratio (DPR) is currently 51.28%.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of research analyst reports. Wall Street Zen raised Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Sanford C. Bernstein reiterated an "outperform" rating and set a $180.00 price objective on shares of Tapestry in a report on Tuesday. Raymond James Financial reiterated an "outperform" rating and set a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. BNP Paribas Exane assumed coverage on Tapestry in a report on Friday, February 13th. They set an "outperform" rating and a $176.00 price objective for the company. Finally, Citigroup increased their price objective on Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.22.

Insider Buying and Selling

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm'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 completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

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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