Jefferies Financial Group Inc. Has $10.10 Million Stake in Tapestry, Inc. $TPR

Key Points

• Jefferies Financial Group cut its Tapestry stake by 37.2% in the fourth quarter, selling 46,786 shares and leaving it with 79,009 shares valued at about $10.1 million.
• Tapestry posted stronger-than-expected quarterly results, with EPS of $1.66 and revenue of $1.92 billion, both above analyst estimates, while revenue rose 21.2% year over year.
• The company declared a quarterly dividend of $0.40 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $160.67.

Jefferies Financial Group Inc. trimmed its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,009 shares of the luxury accessories retailer's stock after selling 46,786 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Tapestry were worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC lifted its holdings in shares of Tapestry by 21.7% during the 3rd quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer's stock valued at $68,868,000 after buying an additional 108,278 shares during the last quarter. DNB Asset Management AS lifted its holdings in Tapestry by 1,331.4% in the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer's stock worth $4,470,000 after purchasing an additional 36,720 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Tapestry by 45.5% in the 3rd quarter. WCM Investment Management LLC now owns 815,037 shares of the luxury accessories retailer's stock worth $90,844,000 after purchasing an additional 254,936 shares during the last quarter. Advisory Research Inc. lifted its holdings in Tapestry by 30.1% in the 3rd quarter. Advisory Research Inc. now owns 228,107 shares of the luxury accessories retailer's stock worth $25,826,000 after purchasing an additional 52,747 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Tapestry by 23.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 217,408 shares of the luxury accessories retailer's stock worth $24,615,000 after purchasing an additional 41,556 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TPR shares. The Goldman Sachs Group set a $166.00 target price on Tapestry in a report on Friday, February 6th. BTIG Research restated a "buy" rating and issued a $180.00 target price on shares of Tapestry in a report on Friday, May 8th. Citigroup boosted their target price on Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on Tapestry from $142.00 to $165.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Finally, Weiss Ratings lowered Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday. 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 company's stock. According to MarketBeat, Tapestry currently has a consensus rating of "Moderate Buy" and an average target price of $160.67.

Tapestry Stock Performance

Shares of NYSE TPR opened at $138.65 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The business's 50 day moving average is $142.33 and its two-hundred day moving average is $133.80. The company has a market cap of $28.01 billion, a P/E ratio of 44.44, a P/E/G ratio of 1.41 and a beta of 1.45. Tapestry, Inc. has a 12 month low of $76.29 and a 12 month high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion for 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 for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

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

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company's stock.

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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