Tapestry, Inc. $TPR Shares Sold by Savant Capital LLC

Key Points

• Savant Capital LLC sharply reduced its Tapestry stake by 87.7% in the fourth quarter, selling 32,004 shares and leaving it with 4,497 shares worth about $575,000.
• Tapestry reported a strong quarter, with EPS of $1.66 and revenue of $1.92 billion, both above analyst expectations, while revenue rose 21.2% year over year.
• Despite recent insider selling by CEO Todd Kahn and CEO Joanne C. Crevoiserat, analysts remain constructive on the stock, with a Moderate Buy consensus and an average target price of $161.22.

Savant Capital LLC cut its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,497 shares of the luxury accessories retailer's stock after selling 32,004 shares during the quarter. Savant Capital LLC's holdings in Tapestry were worth $575,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TPR. State Street Corp increased its position in shares of Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer's stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer's stock valued at $213,592,000 after purchasing an additional 1,162,442 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Tapestry by 426.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock valued at $127,092,000 after purchasing an additional 909,433 shares during the last quarter. Barclays PLC increased its position in shares of Tapestry by 191.9% in the 3rd quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer's stock valued at $146,891,000 after purchasing an additional 852,908 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Tapestry by 21.1% in the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer's stock valued at $549,046,000 after purchasing an additional 846,553 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of the 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 directly owned 123,258 shares of the company's stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's 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 $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. Company insiders own 1.32% of the company's stock.

Tapestry Trading Up 0.5%

NYSE TPR opened at $139.38 on Thursday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The firm's fifty day moving average price is $142.09 and its 200 day moving average price is $135.88. The company has a market capitalization of $28.16 billion, a price-to-earnings ratio of 44.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.42. Tapestry, Inc. has a 12 month low of $77.79 and a 12 month high of $161.97.

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. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company's revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current fiscal year.

Tapestry Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Evercore set a $175.00 price objective on shares of Tapestry in a research report on Friday, May 8th. Raymond James Financial reissued an "outperform" rating and issued a $165.00 price objective on shares of Tapestry in a research report on Thursday, April 23rd. Wells Fargo & Company increased their price objective on shares of Tapestry from $142.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday, February 6th. UBS Group raised shares of Tapestry from a "neutral" rating to a "buy" rating and increased their price objective for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $161.22.

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.

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.