Hillsdale Investment Management Inc. Sells 42,800 Shares of Tapestry, Inc. $TPR

Key Points

• Hillsdale Investment Management slashed its Tapestry stake by 81.1% in the fourth quarter, selling 42,800 shares and leaving it with 10,000 shares worth about $1.28 million.
• Several insiders also sold shares, including CEO Todd Kahn and CEO Joanne C. Crevoiserat, even as insiders still hold only 1.32% of the company.
• Tapestry beat earnings expectations in its latest quarter, reporting $1.66 EPS on $1.92 billion in revenue, and it also maintained a quarterly dividend of $0.40 per share.

Hillsdale Investment Management Inc. cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 81.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the luxury accessories retailer's stock after selling 42,800 shares during the quarter. Hillsdale Investment Management Inc.'s holdings in Tapestry were worth $1,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Triumph Capital Management bought a new position in Tapestry during the third quarter worth $29,000. Steph & Co. boosted 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 acquiring an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Tapestry during the fourth quarter worth $31,000. Cornerstone Planning Group LLC boosted its stake in Tapestry by 2,720.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock worth $36,000 after acquiring an additional 272 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in Tapestry by 157.4% during the fourth quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer's stock worth $41,000 after acquiring an additional 192 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Transactions at Tapestry

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 transaction of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares of the company's stock, 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 at this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were 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 $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by company insiders.

Tapestry Stock Down 0.0%

TPR opened at $145.40 on Monday. 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's 50-day moving average is $142.31 and its 200 day moving average is $135.10. Tapestry, Inc. has a fifty-two week low of $76.92 and a fifty-two week high of $161.97. The firm has a market capitalization of $29.38 billion, a P/E ratio of 46.60, a PEG ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last released 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. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the firm earned $1.03 earnings per share. The firm's revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts expect that Tapestry, Inc. will post 6.95 earnings per share 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 given 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 is Friday, June 5th. Tapestry's dividend payout ratio (DPR) is presently 51.28%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Robert W. Baird raised their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Zacks Research upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, February 9th. Finally, Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $160.67.

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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