Rockefeller Capital Management L.P. Boosts Stake in Tapestry, Inc. $TPR

Key Points

• Rockefeller Capital Management increased its Tapestry stake by 78% in the fourth quarter, lifting its holdings to 17,760 shares valued at about $2.27 million.
• Tapestry’s latest quarterly results were strong, with EPS of $1.66 beating estimates and revenue of $1.92 billion topping expectations, while sales rose 21.2% year over year.
• Analysts remain constructive on the stock: several firms reiterated or raised ratings, and Tapestry now carries a Moderate Buy consensus with an average price target of $167.65.

Rockefeller Capital Management L.P. grew its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 78.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,760 shares of the luxury accessories retailer's stock after buying an additional 7,780 shares during the period. Rockefeller Capital Management L.P.'s holdings in Tapestry were worth $2,269,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TPR. Larry Mathis Financial Planning LLC purchased a new stake in shares of Tapestry in the fourth quarter valued at $218,000. Corient Private Wealth LLC raised its stake in Tapestry by 12.9% in the 4th quarter. Corient Private Wealth LLC now owns 64,512 shares of the luxury accessories retailer's stock valued at $8,243,000 after purchasing an additional 7,375 shares during the last quarter. Hsbc Holdings PLC raised its stake in Tapestry by 13.1% in the 4th quarter. Hsbc Holdings PLC now owns 386,483 shares of the luxury accessories retailer's stock valued at $49,403,000 after purchasing an additional 44,755 shares during the last quarter. Pure Financial Advisors LLC purchased a new position in Tapestry in the 4th quarter valued at about $208,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Tapestry in the 4th quarter valued at about $1,278,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction dated 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 transaction, 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 ownership of the stock. 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. 1.32% of the stock is currently owned by company insiders.

Tapestry Trading Up 0.3%

Shares of TPR stock opened at $146.41 on Tuesday. The firm's 50-day simple moving average is $142.23 and its 200-day simple moving average is $140.53. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry, Inc. has a 1-year low of $84.39 and a 1-year high of $161.97. The firm has a market cap of $29.58 billion, a P/E ratio of 46.93, a PEG ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results 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 firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry's revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TPR. Raymond James Financial reiterated an "outperform" rating and set a $165.00 price target on shares of Tapestry in a report on Thursday, April 23rd. BTIG Research reaffirmed a "buy" rating and issued a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. UBS Group boosted their price target on Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Wall Street Zen raised Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, Robert W. Baird raised their price objective on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Two equities research 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $167.65.

Tapestry Company 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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