Tapestry, Inc. $TPR Position Trimmed by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC trimmed its Tapestry stake by 40.7% in the fourth quarter, selling 34,360 shares and leaving it with 50,017 shares worth about $6.39 million.
• Tapestry reported a strong quarter, with EPS of $1.66 and revenue of $1.92 billion, both beating analyst expectations, while revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share to be paid June 22, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $161.22.

Reinhart Partners LLC. lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,017 shares of the luxury accessories retailer's stock after selling 34,360 shares during the quarter. Reinhart Partners LLC.'s holdings in Tapestry were worth $6,391,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CIBC Asset Management Inc grew its stake in shares of Tapestry by 80.8% in the 4th quarter. CIBC Asset Management Inc now owns 49,251 shares of the luxury accessories retailer's stock valued at $6,293,000 after buying an additional 22,015 shares in the last quarter. Kesler Norman & Wride LLC bought a new stake in shares of Tapestry in the 4th quarter valued at approximately $379,000. Root Financial Partners LLC grew its stake in shares of Tapestry by 437.2% in the 4th quarter. Root Financial Partners LLC now owns 2,702 shares of the luxury accessories retailer's stock valued at $345,000 after buying an additional 2,199 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in shares of Tapestry by 2.1% in the 4th quarter. New Mexico Educational Retirement Board now owns 9,548 shares of the luxury accessories retailer's stock valued at $1,220,000 after buying an additional 200 shares in the last quarter. Finally, Florida Financial Advisors LLC grew its stake in shares of Tapestry by 26.9% in the 4th quarter. Florida Financial Advisors LLC now owns 14,986 shares of the luxury accessories retailer's stock valued at $1,913,000 after buying an additional 3,176 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Buying and Selling

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was 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 directly owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPR. BTIG Research reissued a "buy" rating and issued a $180.00 price target on shares of Tapestry in a research note on Friday, May 8th. Weiss Ratings cut Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. UBS Group raised Tapestry from a "neutral" rating to a "buy" rating and boosted their price target for the company from $142.00 to $187.00 in a research note on Friday, May 8th. TD Cowen reissued a "buy" rating on shares of Tapestry in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group set a $166.00 price target on Tapestry in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $161.22.

Tapestry Stock Down 0.1%

Shares of Tapestry stock opened at $138.64 on Wednesday. The stock has a market capitalization of $28.01 billion, a P/E ratio of 44.44, a PEG ratio of 1.41 and a beta of 1.42. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The stock has a 50 day moving average price of $142.23 and a two-hundred day moving average price of $135.36. Tapestry, Inc. has a 12-month low of $77.79 and a 12-month high of $161.97.

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

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry's dividend payout ratio is presently 51.28%.

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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