Ieq Capital LLC Lowers Holdings in Tapestry, Inc. $TPR

Ieq Capital LLC decreased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 10.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 272,274 shares of the luxury accessories retailer's stock after selling 32,209 shares during the quarter. Ieq Capital LLC owned 0.13% of Tapestry worth $34,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vontobel Holding Ltd. boosted its stake in shares of Tapestry by 66.8% in the fourth quarter. Vontobel Holding Ltd. now owns 16,576 shares of the luxury accessories retailer's stock valued at $2,118,000 after purchasing an additional 6,638 shares during the period. Storgate LLC purchased a new position in shares of Tapestry in the fourth quarter valued at approximately $729,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tapestry by 15.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,351,938 shares of the luxury accessories retailer's stock valued at $172,737,000 after purchasing an additional 175,855 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Tapestry in the fourth quarter valued at approximately $25,554,000. Finally, Keystone Investors PTE Ltd. boosted its stake in shares of Tapestry by 17.4% in the fourth quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock valued at $8,001,000 after purchasing an additional 9,303 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction on 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 transaction, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company's stock.

Tapestry Trading Up 1.5%

Shares of Tapestry stock opened at $147.58 on Friday. The company has a fifty day simple moving average of $142.25 and a 200-day simple moving average of $137.60. Tapestry, Inc. has a 12-month low of $78.59 and a 12-month high of $161.97. 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 stock has a market cap of $29.82 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (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 analysts' expectations of $1.79 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The company's revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on TPR. BTIG Research reissued a "buy" rating and issued a $180.00 price objective on shares of Tapestry in a research note on Wednesday. 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. Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Citigroup raised their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $165.00 price objective on shares of Tapestry in a research note on Thursday, April 23rd. Two investment 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's stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $165.12.

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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