Tapestry, Inc. $TPR Shares Sold by Barclays PLC

Key Points

• Barclays PLC reduced its Tapestry stake by 33.5% in the fourth quarter, selling 434,938 shares and leaving it with 862,456 shares worth about $110.2 million.
• Tapestry reported strong quarterly results, with earnings of $1.66 per share on revenue of $1.92 billion, both ahead of expectations, and revenue rose 21.2% year over year.
• The company continues to draw bullish analyst support, with a consensus rating of “Moderate Buy” and an average price target of $165.12, while also paying a quarterly dividend of $0.40 per share.

Barclays PLC cut its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 33.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 862,456 shares of the luxury accessories retailer's stock after selling 434,938 shares during the quarter. Barclays PLC owned about 0.43% of Tapestry worth $110,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Schroder Investment Management Group grew its stake in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer's stock valued at $1,194,678,000 after buying an additional 4,500,850 shares in the last quarter. Norges Bank acquired a new stake in shares of Tapestry in the fourth quarter valued at about $345,349,000. State Street Corp grew its stake in shares of Tapestry by 19.3% in the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after buying an additional 1,494,193 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Tapestry by 160.5% in the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock valued at $213,592,000 after buying an additional 1,162,442 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Tapestry by 169.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,770,695 shares of the luxury accessories retailer's stock valued at $226,242,000 after buying an additional 1,114,082 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Trading Up 2.3%

Shares of NYSE TPR opened at $150.80 on Tuesday. The stock's 50 day simple moving average is $142.43 and its 200 day simple moving average is $138.13. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The company has a market cap of $30.47 billion, a price-to-earnings ratio of 48.33, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. Tapestry, Inc. has a 12-month low of $80.35 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 for the quarter, beating the consensus estimate of $1.30 by $0.36. The firm 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%.The firm's revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry's dividend payout ratio (DPR) is 51.28%.

Analyst Ratings Changes

A number of research firms have recently issued reports on TPR. BTIG Research reiterated a "buy" rating and issued a $180.00 target price on shares of Tapestry in a research note on Wednesday, June 10th. Evercore set a $175.00 target price on Tapestry in a research note on Friday, May 8th. Raymond James Financial restated an "outperform" rating and set a $165.00 price objective on shares of Tapestry in a research note on Thursday, April 23rd. Wall Street Zen upgraded Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Tapestry currently has an average rating of "Moderate Buy" and an average price target of $165.12.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction 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 transaction, the chief executive officer directly owned 652,434 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The shares were 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 in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by company insiders.

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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