Systematic Financial Management LP Sells 100,549 Shares of Tapestry, Inc. $TPR

Key Points

• Systematic Financial Management LP cut its Tapestry stake by 29.4% in the fourth quarter, selling 100,549 shares and leaving it with 241,147 shares worth about $30.8 million.
• Tapestry CEO Joanne C. Crevoiserat sold 27,776 shares in a pre-arranged trading plan, a transaction valued at about $3.69 million.
• The company reported strong quarterly results, with EPS of $1.66 and revenue of $1.92 billion, both above estimates, and it also announced a quarterly dividend of $0.40 per share.

Systematic Financial Management LP trimmed its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 29.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 241,147 shares of the luxury accessories retailer's stock after selling 100,549 shares during the period. Systematic Financial Management LP owned about 0.12% of Tapestry worth $30,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPR. Cloud Capital Management LLC bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $26,000. Triumph Capital Management bought a new position in shares of Tapestry during the 3rd quarter valued at approximately $29,000. Steph & Co. grew its position in shares of 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 acquiring an additional 130 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Tapestry during the 4th quarter valued at approximately $31,000. Finally, Cornerstone Planning Group LLC grew its position in shares of 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 acquiring an additional 272 shares during the period. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were 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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.32% of the company's stock.

Tapestry Stock Down 0.3%

TPR opened at $138.65 on Friday. The company has a 50 day moving average of $142.33 and a 200 day moving average of $133.61. The company has a market cap of $28.01 billion, a PE ratio of 44.44, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. Tapestry, Inc. has a 12 month low of $76.29 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 released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. The company 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 for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors 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 annualized dividend and a yield of 1.2%. Tapestry's dividend payout ratio (DPR) is 51.28%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TPR. Evercore set a $175.00 target price on shares of Tapestry in a research report on Friday, May 8th. Telsey Advisory Group increased their target price on shares of Tapestry to $150.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Robert W. Baird increased their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Barclays set a $179.00 target price on shares of Tapestry and gave the company an "overweight" rating in a research report on Friday, February 6th. Finally, The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Tapestry currently 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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