Legal & General Group Plc Buys 20,248 Shares of Tapestry, Inc. $TPR

Key Points

• Legal & General Group Plc increased its Tapestry stake by 2.8% in the fourth quarter, buying 20,248 additional shares and bringing its total holding to 743,529 shares worth about $95.0 million.
• Tapestry reported strong quarterly results, with EPS of $1.66 beating estimates and revenue of $1.92 billion topping expectations, while revenue rose 21.2% year over year. The company also reaffirmed FY2026 EPS guidance at 6.95.
• The company announced a quarterly dividend of $0.40 per share, payable June 22, and analysts remain generally bullish, with a consensus rating of “Moderate Buy” and an average price target of $160.67.

Legal & General Group Plc raised its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 743,529 shares of the luxury accessories retailer's stock after purchasing an additional 20,248 shares during the quarter. Legal & General Group Plc owned 0.37% of Tapestry worth $95,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after acquiring an additional 1,494,193 shares in the last quarter. Schroder Investment Management Group raised its holdings in Tapestry by 21.1% in the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer's stock worth $549,046,000 after purchasing an additional 846,553 shares in the last quarter. AQR Capital Management LLC raised its holdings in Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer's stock worth $487,708,000 after purchasing an additional 760,646 shares in the last quarter. Northern Trust Corp raised its holdings in Tapestry by 7.6% in the 3rd quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer's stock worth $325,034,000 after purchasing an additional 203,520 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Tapestry by 7.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,274,823 shares of the luxury accessories retailer's stock worth $257,555,000 after purchasing an additional 159,515 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Tapestry Trading Up 4.7%

NYSE TPR opened at $145.39 on Friday. Tapestry, Inc. has a 12 month low of $76.92 and a 12 month high of $161.97. The stock has a market cap of $29.37 billion, a P/E ratio of 46.60, a P/E/G ratio of 1.41 and a beta of 1.45. The stock's fifty day moving average price is $142.20 and its 200-day moving average price is $134.83. 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 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 company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm posted $1.03 EPS. Tapestry'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. As a group, equities analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's dividend payout ratio is 51.28%.

Insider Activity

In related news, CEO Todd Kahn sold 19,557 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 sale, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents 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. Corporate insiders own 1.32% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on TPR shares. Wells Fargo & Company upped their price objective on shares of Tapestry from $142.00 to $165.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Citigroup upped their price objective on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Argus set a $165.00 price objective on shares of Tapestry in a report on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Finally, Raymond James Financial restated an "outperform" rating and issued a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $160.67.

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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