Massachusetts Financial Services Co. MA Sells 64,595 Shares of Tapestry, Inc. $TPR

Key Points

• Massachusetts Financial Services reduced its position in Tapestry by 2.6%, selling 64,595 shares and finishing the quarter with 2,384,575 shares valued at about $304.68 million (1.17% of the company).
• Insider selling was notable: CEO Todd Kahn sold 39,815 shares and director Thomas Greco sold 14,245 shares in February, and insiders disposed of 164,956 shares worth $25.3 million over the past three months (insiders now own 1.32%).
• Tapestry beat quarterly expectations (EPS $2.69 vs. $2.20 expected; revenue $2.50B vs. $2.29B, +14% YoY), set FY2026 EPS guidance of $6.40–$6.45, and carries an average analyst stance of Moderate Buy with a $151.06 target.

Massachusetts Financial Services Co. MA lessened its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,384,575 shares of the luxury accessories retailer's stock after selling 64,595 shares during the period. Massachusetts Financial Services Co. MA owned 1.17% of Tapestry worth $304,677,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC bought a new position in Tapestry during the fourth quarter worth $221,000. Apollon Financial LLC bought a new position in Tapestry during the fourth quarter worth $245,000. Apollon Wealth Management LLC raised its stake in Tapestry by 19.9% during the fourth quarter. Apollon Wealth Management LLC now owns 5,552 shares of the luxury accessories retailer's stock worth $709,000 after buying an additional 922 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Tapestry during the fourth quarter worth $357,000. Finally, OFI Invest Asset Management bought a new position in Tapestry during the fourth quarter worth $618,000. Institutional investors own 90.77% of the company's stock.

Insider Activity

In other news, CEO Todd Kahn sold 39,815 shares of Tapestry stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the completion of the transaction, the chief executive officer directly owned 120,578 shares in the company, valued at $18,248,274.52. This trade represents a 24.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Greco sold 14,245 shares of Tapestry stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the transaction, the director owned 21,302 shares of the company's stock, valued at $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 164,956 shares of company stock valued at $25,297,262. 1.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Zacks Research upgraded shares of Tapestry from a "hold" rating to a "strong-buy" rating in a report on Monday, February 9th. Weiss Ratings restated a "hold (c)" rating on shares of Tapestry in a report on Wednesday, January 21st. Evercore raised their price target on shares of Tapestry from $129.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, February 3rd. Barclays set a $179.00 price target on shares of Tapestry and gave the stock an "overweight" rating in a report on Friday, February 6th. Finally, Telsey Advisory Group raised their price target on shares of Tapestry to $150.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $151.06.

Tapestry Stock Down 1.6%

Shares of NYSE TPR opened at $150.19 on Friday. The stock has a market capitalization of $30.41 billion, a P/E ratio of 62.06, a P/E/G ratio of 1.80 and a beta of 1.59. The company has a 50-day moving average price of $147.04 and a 200-day moving average price of $128.17. Tapestry, Inc. has a 1 year low of $61.60 and a 1 year high of $161.97. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.20 by $0.49. The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business's revenue was up 14.0% on a year-over-year basis. During the same period last year, the company earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, March 6th. Tapestry's dividend payout ratio (DPR) is currently 66.12%.

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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