Tapestry, Inc. $TPR Shares Bought by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its stake in Tapestry by 3.1% in the fourth quarter, ending with 627,041 shares valued at about $80.1 million.
• Tapestry reported a strong quarterly beat, posting $1.66 EPS on $1.92 billion in revenue, both above analyst expectations, while revenue rose 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $160.67.

Fisher Asset Management LLC grew its position in Tapestry, Inc. (NYSE:TPR - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 627,041 shares of the luxury accessories retailer's stock after buying an additional 18,775 shares during the quarter. Fisher Asset Management LLC owned 0.31% of Tapestry worth $80,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steph & Co. lifted its stake in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after acquiring an additional 130 shares in the last quarter. Cloud Capital Management LLC acquired a new position in Tapestry in the 3rd quarter valued at about $26,000. Flagship Harbor Advisors LLC purchased a new stake in Tapestry during the fourth quarter worth about $31,000. Triumph Capital Management acquired a new stake in shares of Tapestry during the third quarter worth about $29,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Tapestry by 2,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer's stock valued at $36,000 after purchasing an additional 272 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Telsey Advisory Group lifted their price objective on shares of Tapestry to $150.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Barclays set a $179.00 price target on shares of Tapestry and gave the stock an "overweight" rating in a research note on Friday, February 6th. BNP Paribas Exane began coverage on Tapestry in a research note on Friday, February 13th. They issued an "outperform" rating and a $176.00 price objective on the stock. Finally, Evercore set a $175.00 target price on Tapestry in a research note on Friday, May 8th. 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 stock. Based on data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and a consensus target price of $160.67.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company's stock.

Tapestry Trading Up 0.1%

NYSE TPR opened at $138.65 on Tuesday. Tapestry, Inc. has a 52 week low of $76.29 and a 52 week high of $161.97. The firm has a 50 day moving average of $142.25 and a two-hundred day moving average of $134.03. 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 market capitalization 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 (NYSE:TPR - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company's revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $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 EPS for the current fiscal year.

Tapestry Dividend Announcement

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

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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