Railway Pension Investments Ltd Buys New Position in Tapestry, Inc. $TPR

Key Points

• Railway Pension Investments Ltd opened a new position in Tapestry during the fourth quarter, buying 310,800 shares worth about $39.7 million and taking a 0.15% stake.
• Tapestry reported better-than-expected Q1 results, with EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion, up 21.2% year over year.
• The company also highlighted shareholder returns and sentiment: it announced a quarterly dividend of $0.40 per share, while analysts remain mostly positive with a consensus Moderate Buy rating and an average price target of $160.67.

Railway Pension Investments Ltd purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 310,800 shares of the luxury accessories retailer's stock, valued at approximately $39,711,000. Railway Pension Investments Ltd owned 0.15% of Tapestry at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp boosted its position in shares of Tapestry by 19.3% in the third 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 during the period. Geode Capital Management LLC boosted its position in shares of Tapestry by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock worth $753,482,000 after purchasing an additional 203,764 shares during the period. Schroder Investment Management Group boosted its position in shares of Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer's stock worth $549,046,000 after purchasing an additional 846,553 shares during the period. AQR Capital Management LLC boosted its position in shares of Tapestry by 21.4% in the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer's stock worth $487,708,000 after purchasing an additional 760,646 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tapestry by 7.6% in the third quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer's stock worth $325,034,000 after purchasing an additional 203,520 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares of the company's stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Price Performance

Shares of NYSE:TPR opened at $145.40 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The firm has a fifty day moving average price of $142.31 and a 200 day moving average price of $134.90. Tapestry, Inc. has a fifty-two week low of $76.92 and a fifty-two week high of $161.97. The firm has a market cap of $29.38 billion, a price-to-earnings ratio of 46.60, a P/E/G ratio of 1.48 and a beta of 1.45.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Tapestry's revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry's dividend payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TPR shares. The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a research report on Friday, February 6th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $170.00 price target on shares of Tapestry in a research report on Friday, February 6th. Robert W. Baird upped their price target 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. Wells Fargo & Company upped their price target on shares of Tapestry from $142.00 to $165.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Finally, Barclays set a $179.00 price target on shares of Tapestry and gave the stock an "overweight" rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.67.

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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