Tapestry, Inc. $TPR Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. nearly doubled its stake in Tapestry during the fourth quarter, buying an additional 11,961 shares and bringing its total to 24,465 shares valued at about $3.13 million.
• Several analysts remain bullish on Tapestry, with recent upgrades and raised price targets from firms including UBS, Barclays, Citigroup, and BTIG. The stock’s consensus rating is Moderate Buy with an average target price of $160.67.
• Tapestry reported strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.40 per share payable June 22. CEO Joanne C. Crevoiserat separately sold 27,776 shares in a pre-arranged trading plan.

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 95.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,465 shares of the luxury accessories retailer's stock after purchasing an additional 11,961 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Tapestry were worth $3,126,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Northwest Wealth Management LLC grew its stake in Tapestry by 3.4% during the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer's stock valued at $315,000 after purchasing an additional 82 shares in the last quarter. Fulton Bank N.A. grew its stake in Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer's stock valued at $405,000 after purchasing an additional 87 shares in the last quarter. CVA Family Office LLC grew its stake in Tapestry by 23.4% during the 4th quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer's stock valued at $60,000 after purchasing an additional 89 shares in the last quarter. Clark Financial Services Group Inc. BD grew its stake in Tapestry by 1.8% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer's stock valued at $733,000 after purchasing an additional 103 shares in the last quarter. Finally, Essex Financial Services Inc. grew its stake in Tapestry by 3.5% during the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer's stock valued at $376,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TPR. Barclays set a $179.00 price objective on Tapestry and gave the company an "overweight" rating in a research note on Friday, February 6th. UBS Group upgraded Tapestry from a "neutral" rating to a "buy" rating and raised their price objective for the company from $142.00 to $187.00 in a research note on Friday, May 8th. Citigroup raised their price objective on Tapestry from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, BTIG Research reaffirmed a "buy" rating and set a $180.00 target price on shares of Tapestry in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Tapestry presently has an average rating of "Moderate Buy" and a consensus price target of $160.67.

Insider Activity

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 stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer 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 sale was disclosed in a document filed with the SEC, 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 Trading Up 0.1%

NYSE:TPR opened at $138.65 on Tuesday. 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 business's 50 day moving average is $142.25 and its two-hundred day moving average is $134.03. Tapestry, Inc. has a 52 week low of $76.29 and a 52 week high of $161.97. The company has a market cap of $28.01 billion, a PE ratio of 44.44, a P/E/G ratio of 1.41 and a beta of 1.45.

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

Tapestry Announces Dividend

The business also recently declared 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 dividend yield of 1.2%. Tapestry's dividend payout ratio (DPR) is 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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