Public Employees Retirement Association of Colorado Has $22.97 Million Stake in Tapestry, Inc. $TPR

Key Points

• Public Employees Retirement Association of Colorado boosted its stake in Tapestry by 781.8% in the fourth quarter, ending with 179,790 shares worth about $22.97 million.
• Institutional ownership remains very high, with hedge funds and other investors owning 90.77% of Tapestry’s shares, while several large funds also increased their positions during the period.
• Tapestry reported strong quarterly results, beating EPS and revenue estimates, and analysts remain largely positive with a consensus Moderate Buy rating and an average price target of $165.12.

Public Employees Retirement Association of Colorado grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 781.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,790 shares of the luxury accessories retailer's stock after purchasing an additional 159,400 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.09% of Tapestry worth $22,972,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group grew its position in shares of Tapestry by 92.8% during the 4th quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock worth $1,194,678,000 after purchasing an additional 4,500,850 shares in the last quarter. Norges Bank acquired a new position in shares of Tapestry during the 4th quarter worth approximately $345,349,000. State Street Corp grew its position in shares of Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock worth $1,044,995,000 after purchasing an additional 1,494,193 shares in the last quarter. Voloridge Investment Management LLC grew its position in shares of Tapestry by 160.5% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock worth $213,592,000 after purchasing an additional 1,162,442 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Tapestry by 169.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,770,695 shares of the luxury accessories retailer's stock worth $226,242,000 after purchasing an additional 1,114,082 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analysts Set New Price Targets

TPR has been the topic of a number of analyst reports. Sanford C. Bernstein restated an "outperform" rating and set a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. Weiss Ratings lowered shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. UBS Group upgraded shares of Tapestry from a "neutral" rating to a "buy" rating and increased their target price for the stock from $142.00 to $187.00 in a research report on Friday, May 8th. Robert W. Baird increased their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Citigroup increased their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $165.12.

Tapestry Stock Performance

NYSE TPR opened at $147.58 on Monday. 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 firm has a market capitalization of $29.82 billion, a price-to-earnings ratio of 47.30, a P/E/G ratio of 1.50 and a beta of 1.42. The firm's 50 day simple moving average is $142.25 and its 200 day simple moving average is $137.83. Tapestry, Inc. has a 1 year low of $78.59 and a 1 year high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.36. The business had revenue of $1.92 billion for 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 firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry's dividend payout ratio (DPR) is currently 51.28%.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction 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. This represents a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company's stock.

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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