IPG Investment Advisors LLC Makes New Investment in Tapestry, Inc. $TPR

Key Points

• IPG Investment Advisors disclosed a new fourth-quarter position in Tapestry, buying 13,830 shares worth about $1.77 million. The filing comes amid broader institutional interest, with hedge funds and other investors owning most of the stock.
• Tapestry insiders have been selling shares recently, including CEO Todd Kahn and CEO Joanne C. Crevoiserat. Their transactions were disclosed in SEC filings, and insiders now own about 1.32% of the company.
• The company posted strong quarterly results, beating earnings and revenue estimates, and it also announced a quarterly dividend of $0.40 per share. Analysts remain generally bullish, with a consensus rating of Moderate Buy and an average target price of $160.67.

IPG Investment Advisors LLC acquired a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,830 shares of the luxury accessories retailer's stock, valued at approximately $1,767,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Severin Investments LLC purchased a new stake in shares of Tapestry in the fourth quarter worth approximately $641,000. Geode Capital Management LLC raised its stake in shares of Tapestry by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock worth $753,482,000 after purchasing an additional 203,764 shares during the last quarter. Expressive Wealth LLC purchased a new stake in shares of Tapestry in the fourth quarter worth approximately $407,000. Global Assets Advisory LLC purchased a new stake in shares of Tapestry in the fourth quarter worth approximately $224,000. Finally, Allstate Corp raised its stake in shares of Tapestry by 104.9% in the fourth quarter. Allstate Corp now owns 15,660 shares of the luxury accessories retailer's stock worth $2,001,000 after purchasing an additional 8,019 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the transaction, the chief executive officer directly owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. This trade represents 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

TPR has been the subject of a number of research analyst reports. Barclays set a $179.00 price target on Tapestry and gave the company an "overweight" rating in a research report on Friday, February 6th. Citigroup increased their price target on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. UBS Group raised Tapestry from a "neutral" rating to a "buy" rating and increased their price target for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $170.00 price target on shares of Tapestry in a research report on Friday, February 6th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Tapestry in a research report on Tuesday, February 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of "Moderate Buy" and a consensus target price of $160.67.

Tapestry Price Performance

Shares of NYSE TPR opened at $138.92 on Thursday. The stock has a fifty day simple moving average of $142.16 and a two-hundred day simple moving average of $134.53. Tapestry, Inc. has a 1-year low of $76.92 and a 1-year high of $161.97. The firm has a market cap of $28.07 billion, a price-to-earnings ratio of 44.53, a price-to-earnings-growth ratio of 1.43 and a beta of 1.45. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data 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. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company earned $1.03 earnings per share. Tapestry's revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's dividend payout ratio is 51.28%.

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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