Precision Wealth Strategies LLC Buys Shares of 8,076 Tapestry, Inc. $TPR

Key Points

• Precision Wealth Strategies LLC opened a new position in Tapestry during the first quarter, buying 8,076 shares worth about $1.14 million.
• Several other institutional investors also added to or initiated stakes in Tapestry, and institutions now own 90.77% of the company’s shares.
• Tapestry reported strong quarterly results, with EPS of $1.66 and revenue of $1.92 billion, both ahead of estimates; the company also paid a quarterly dividend of $0.40 per share.

Precision Wealth Strategies LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 8,076 shares of the luxury accessories retailer's stock, valued at approximately $1,140,000.

A number of other hedge funds have also recently modified their holdings of TPR. Eurizon Capital SGR S.p.A. purchased a new stake in Tapestry in the fourth quarter worth about $8,109,000. Norges Bank purchased a new position in shares of Tapestry during the 4th quarter valued at about $345,349,000. Keystone Investors PTE Ltd. lifted its position in shares of Tapestry by 17.4% during the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock valued at $8,001,000 after buying an additional 9,303 shares in the last quarter. SteelPeak Wealth LLC bought a new position in shares of Tapestry during the 4th quarter valued at approximately $1,865,000. Finally, Aberdeen Group plc grew its stake in shares of Tapestry by 34.7% during the 4th quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer's stock valued at $6,078,000 after acquiring an additional 12,251 shares during the period. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. This trade represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Tapestry from $179.00 to $182.00 and gave the stock an "overweight" rating in a research note on Thursday. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. UBS Group lifted their target price on shares of Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $165.00 target price on shares of Tapestry in a 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 given a Hold rating to the stock. According to MarketBeat, Tapestry has an average rating of "Moderate Buy" and an average price target of $170.06.

Tapestry Stock Down 1.9%

NYSE TPR opened at $141.43 on Friday. Tapestry, Inc. has a 12 month low of $92.62 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. The stock has a market cap of $28.57 billion, a PE ratio of 45.33, a P/E/G ratio of 1.30 and a beta of 1.43. The stock's 50 day moving average is $141.43 and its 200 day moving average is $142.04.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating 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 net margin of 8.44% and a return on equity of 229.70%. The company's revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts predict that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid 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 was Friday, June 5th. Tapestry's dividend payout ratio (DPR) is presently 51.28%.

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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