Polymer Capital Management HK LTD Reduces Holdings in Tapestry, Inc. $TPR

Key Points

• Polymer Capital Management HK LTD reduced its Tapestry stake by 58.3% in the fourth quarter, selling 80,469 shares and leaving it with 57,519 shares valued at about $7.35 million.
• Tapestry reported a strong quarterly beat, posting $1.66 EPS versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected, with revenue up 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $165.12.

Polymer Capital Management HK LTD cut its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 58.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,519 shares of the luxury accessories retailer's stock after selling 80,469 shares during the quarter. Tapestry accounts for about 1.0% of Polymer Capital Management HK LTD's investment portfolio, making the stock its 24th largest holding. Polymer Capital Management HK LTD's holdings in Tapestry were worth $7,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Triumph Capital Management purchased a new stake in Tapestry in the third quarter worth $29,000. Steph & Co. increased its position in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after buying an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in Tapestry during the 4th quarter valued at approximately $31,000. Cornerstone Planning Group LLC increased its position in Tapestry by 2,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after buying an additional 272 shares in the last quarter. Finally, HM Payson & Co. increased its position in Tapestry by 125.8% during the 4th quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer's stock valued at $37,000 after buying an additional 161 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Up 1.5%

Tapestry stock opened at $147.58 on Friday. The firm has a market cap of $29.82 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 1.48 and a beta of 1.42. The stock has a fifty day simple moving average of $142.25 and a two-hundred day simple moving average of $137.60. Tapestry, Inc. has a 12 month low of $78.59 and a 12 month high of $161.97. 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 posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal 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 issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry's dividend payout ratio (DPR) is presently 51.28%.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction on Wednesday, May 13th. The stock was 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 of the company's stock, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday. Weiss Ratings lowered Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Tapestry presently has a consensus rating of "Moderate Buy" and an average target price 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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