Tapestry, Inc. $TPR Shares Purchased by Meeder Asset Management Inc.

Key Points

• Meeder Asset Management boosted its Tapestry stake by 20.5% in the first quarter, buying 12,799 more shares and bringing its total to 75,106 shares worth about $10.6 million.
• Several other institutional investors also increased exposure, and overall hedge funds and institutions own 90.77% of Tapestry shares. Meanwhile, CEO stock sales were reported under a pre-arranged trading plan.
• Analysts remain constructive on Tapestry, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus. The company also beat quarterly earnings and revenue expectations and paid a recent quarterly dividend of $0.40 per share.

Meeder Asset Management Inc. increased its stake in Tapestry, Inc. (NYSE:TPR - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,106 shares of the luxury accessories retailer's stock after acquiring an additional 12,799 shares during the quarter. Meeder Asset Management Inc.'s holdings in Tapestry were worth $10,598,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. acquired a new position in shares of Tapestry during the 4th quarter worth about $8,109,000. Norges Bank purchased a new position in Tapestry in the 4th quarter valued at about $345,349,000. Keystone Investors PTE Ltd. boosted its holdings in Tapestry by 17.4% in the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock worth $8,001,000 after buying an additional 9,303 shares during the last quarter. SteelPeak Wealth LLC purchased a new stake in Tapestry during the 4th quarter worth approximately $1,865,000. Finally, Aberdeen Group plc increased its stake in Tapestry by 34.7% during the 4th quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer's stock worth $6,078,000 after buying an additional 12,251 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 sale, the chief executive officer owned 652,434 shares of the company's stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the firm'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 transaction of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares of the company's stock, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TPR shares. Robert W. Baird raised their target price on Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a research report on Wednesday, April 29th. Barclays boosted their price target on Tapestry from $179.00 to $182.00 and gave the stock an "overweight" rating in a research report on Thursday. BTIG Research restated a "buy" rating and issued a $180.00 price objective on shares of Tapestry in a report on Wednesday, June 10th. JPMorgan Chase & Co. lifted their target price on shares of Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $165.00 target price on shares of Tapestry in a report on Thursday, April 23rd. Two research 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. According to data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $170.06.

Tapestry Stock Performance

Shares of Tapestry stock opened at $141.43 on Monday. Tapestry, Inc. has a one year low of $92.62 and a one year high of $161.97. The company has a market cap of $28.57 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.30 and a beta of 1.43. 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 $141.43 and its 200 day moving average price is $142.12.

Tapestry (NYSE:TPR - Get Free Report) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.79 billion. During the same period in the prior year, the business earned $1.03 EPS. The firm's quarterly revenue 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 6.96 EPS for the current year.

Tapestry Announces Dividend

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