Tapestry, Inc. $TPR Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital boosted its Tapestry stake by 169.7% in the fourth quarter, ending with 1.77 million shares valued at about $226.2 million.
• Insiders sold shares: CEO Todd Kahn and CEO Joanne C. Crevoiserat both disclosed notable stock sales in May, reducing their holdings by 13.69% and 4.08%, respectively.
• Wall Street remains constructive on Tapestry, with a consensus “Moderate Buy” rating and an average price target of $165.12, while the company also reported strong quarterly results that beat EPS and revenue estimates.

Arrowstreet Capital Limited Partnership increased its stake in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 169.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,770,695 shares of the luxury accessories retailer's stock after acquiring an additional 1,114,082 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.87% of Tapestry worth $226,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Acumen Wealth Advisors LLC purchased a new position in Tapestry during the fourth quarter worth approximately $28,000. Triumph Capital Management purchased a new position in Tapestry during the third quarter worth approximately $29,000. Steph & Co. boosted its position in Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock worth $30,000 after purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry during the fourth quarter worth approximately $31,000. Finally, Cornerstone Planning Group LLC lifted its position 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 acquiring an additional 272 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction 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 completion of the sale, the chief executive officer directly owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction 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 sale, the chief executive officer directly owned 652,434 shares of the company's stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPR. Robert W. Baird lifted their price target on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Argus set a $165.00 price target on Tapestry in a research note on Thursday, March 12th. UBS Group raised Tapestry from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $142.00 to $187.00 in a research note on Friday, May 8th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $180.00 price target on shares of Tapestry in a research note on Tuesday, June 2nd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $180.00 price target on shares of Tapestry in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.12.

Tapestry Stock Performance

Shares of Tapestry stock opened at $147.58 on Monday. Tapestry, Inc. has a one year low of $78.59 and a one year high of $161.97. The company has a market cap of $29.82 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 1.50 and a beta of 1.42. 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 business's 50 day moving average price is $142.25 and its 200 day moving average price is $137.83.

Tapestry (NYSE:TPR - Get Free Report) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company'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. On average, research analysts predict that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The firm 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 $0.40 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry's payout ratio is currently 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.

Want to see what other hedge funds are holding TPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tapestry, Inc. (NYSE:TPR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.