Patton Fund Management Inc. Purchases 17,363 Shares of Tapestry, Inc. $TPR

Key Points

• Patton Fund Management increased its Tapestry stake by 47.2%, buying 17,363 shares to hold 54,170 shares worth about $6.92 million, and institutional investors now own roughly 90.77% of the company.
• Company insiders have been net sellers: CEO Todd Kahn sold 39,815 shares and Director Thomas Greco sold 14,245, with insiders selling 164,956 shares (~$25.3M) in the past 90 days and owning 1.32% of the stock.
• Tapestry posted strong results, beating Q results with $2.69 EPS vs $2.20 expected and $2.50B revenue vs $2.29B, set FY2026 guidance of $6.40–$6.45 EPS, and carries a consensus "Moderate Buy" with an average target of $151.06.

Patton Fund Management Inc. lifted its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,170 shares of the luxury accessories retailer's stock after buying an additional 17,363 shares during the period. Patton Fund Management Inc.'s holdings in Tapestry were worth $6,921,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TPR. Woodline Partners LP increased its position in shares of Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer's stock valued at $1,231,000 after buying an additional 3,495 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Tapestry in the 1st quarter worth $493,000. Sivia Capital Partners LLC acquired a new position in Tapestry in the 2nd quarter worth $602,000. Arrowstreet Capital Limited Partnership acquired a new position in Tapestry in the 2nd quarter worth $6,307,000. Finally, Brown Advisory Inc. boosted its stake in Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer's stock worth $319,000 after purchasing an additional 439 shares during the period. Institutional investors own 90.77% of the company's stock.

Insider Activity

In other news, CEO Todd Kahn sold 39,815 shares of the company's 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 transaction, the chief executive officer owned 120,578 shares in the company, valued at approximately $18,248,274.52. This represents a 24.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Greco sold 14,245 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the completion of the sale, the director owned 21,302 shares in the company, valued at $3,289,880.88. This represents a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 164,956 shares of company stock valued at $25,297,262. Corporate insiders own 1.32% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Robert W. Baird set a $160.00 target price on shares of Tapestry in a research note on Friday, February 6th. BNP Paribas Exane assumed coverage on shares of Tapestry in a research note on Friday, February 13th. They issued an "outperform" rating and a $176.00 target price for the company. Zacks Research raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tapestry in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $151.06.

Tapestry Stock Down 0.3%

Tapestry stock opened at $149.84 on Tuesday. The stock has a market cap of $30.34 billion, a P/E ratio of 61.92, a P/E/G ratio of 1.80 and a beta of 1.59. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a twelve month low of $61.60 and a twelve month high of $161.97. The company's 50-day moving average price is $147.44 and its two-hundred day moving average price is $128.57.

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

Tapestry Dividend Announcement

The business 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. The ex-dividend date was Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry's dividend payout ratio is currently 66.12%.

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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