North Dakota State Investment Board Invests $2.42 Million in Tapestry, Inc. $TPR

Key Points

• North Dakota State Investment Board opened a new position in Tapestry, buying 18,920 shares valued at about $2.42 million in the fourth quarter.
• Tapestry reported better-than-expected quarterly results, with earnings per share of $1.66 and revenue of $1.92 billion, both ahead of analysts’ forecasts, while revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $160.67.

North Dakota State Investment Board acquired a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,920 shares of the luxury accessories retailer's stock, valued at approximately $2,417,000.

Several other large investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer's stock valued at $277,295,000 after purchasing an additional 1,750,566 shares in the last quarter. State Street Corp grew its position in shares of Tapestry by 19.3% in the 3rd 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 during the period. Voloridge Investment Management LLC grew its position in shares of Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock valued at $213,592,000 after acquiring an additional 1,162,442 shares during the period. Two Sigma Investments LP grew its position in shares of Tapestry by 426.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock valued at $127,092,000 after acquiring an additional 909,433 shares during the period. Finally, Barclays PLC grew its position in shares of Tapestry by 191.9% in the 3rd quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer's stock valued at $146,891,000 after acquiring an additional 852,908 shares during the period. Institutional investors own 90.77% of the company's stock.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction dated 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 owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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

Shares of Tapestry stock opened at $131.28 on Tuesday. Tapestry, Inc. has a twelve month low of $76.29 and a twelve month high of $161.97. 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 company has a 50-day simple moving average of $143.08 and a two-hundred day simple moving average of $133.06. The stock has a market capitalization of $26.52 billion, a price-to-earnings ratio of 42.08, a price-to-earnings-growth ratio of 1.31 and a beta of 1.45.

Tapestry (NYSE:TPR - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping 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 business had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The business's revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on TPR shares. Robert W. Baird lifted their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $166.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Zacks Research raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. Evercore set a $175.00 price objective on shares of Tapestry in a research report on Friday, May 8th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and an average price target of $160.67.

Tapestry Company 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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