Landscape Capital Management L.L.C. Grows Stock Position in Tapestry, Inc. $TPR

Key Points

• Landscape Capital Management boosted its Tapestry stake by 251.7% in the fourth quarter, ending with 37,806 shares worth about $4.83 million.
• Tapestry’s latest earnings beat expectations, with EPS of $1.66 and revenue of $1.92 billion, while quarterly revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, and analysts remain generally positive with an average rating of Moderate Buy and a consensus price target of $165.12.

Landscape Capital Management L.L.C. grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 251.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,806 shares of the luxury accessories retailer's stock after acquiring an additional 27,058 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Tapestry were worth $4,830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp lifted its position in shares of Tapestry by 3.8% in the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer's stock valued at $1,223,795,000 after acquiring an additional 348,334 shares in the last quarter. Schroder Investment Management Group lifted its position in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock worth $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Geode Capital Management LLC lifted its position in Tapestry by 3.6% during 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 buying an additional 203,764 shares in the last quarter. AQR Capital Management LLC lifted its position in Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer's stock worth $487,708,000 after buying an additional 760,646 shares in the last quarter. Finally, Morgan Stanley lifted its position in Tapestry by 8.9% during the fourth quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer's stock worth $425,118,000 after buying an additional 270,973 shares in the last quarter. 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 Tapestry stock in a transaction 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 sale, the chief executive officer directly owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 completion of the sale, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. The trade was 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 Price Performance

TPR stock opened at $147.58 on Friday. The business has a fifty day moving average of $142.25 and a two-hundred day moving average of $137.60. 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 stock has a market cap of $29.82 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. Tapestry, Inc. has a 52-week low of $78.59 and a 52-week high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry's dividend payout ratio (DPR) is 51.28%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird lifted their price objective on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. BTIG Research reiterated a "buy" rating and set a $180.00 price objective on shares of Tapestry in a research report on Wednesday. Raymond James Financial reiterated an "outperform" rating and set a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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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