Thrivent Financial for Lutherans Has $14.73 Million Stake in Tapestry, Inc. $TPR

Key Points

• Thrivent Financial for Lutherans increased its stake in Tapestry by 181.3% in the fourth quarter, bringing its holdings to 115,227 shares valued at about $14.73 million.
• Tapestry reported a strong quarterly update, with EPS of $1.66 topping estimates and revenue of $1.92 billion, while revenue rose 21.2% year over year.
• The company also declared a quarterly dividend of $0.40 per share, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $160.67.

Thrivent Financial for Lutherans boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 181.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,227 shares of the luxury accessories retailer's stock after purchasing an additional 74,261 shares during the period. Thrivent Financial for Lutherans owned 0.06% of Tapestry worth $14,726,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp increased its stake 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 buying an additional 1,494,193 shares during the period. Schroder Investment Management Group boosted its holdings in Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer's stock valued at $549,046,000 after acquiring an additional 846,553 shares during the last quarter. AQR Capital Management LLC increased its position in Tapestry by 21.4% in the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer's stock worth $487,708,000 after purchasing an additional 760,646 shares during the period. Northern Trust Corp increased its position in Tapestry by 7.6% in the third quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer's stock worth $325,034,000 after purchasing an additional 203,520 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Tapestry by 250.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer's stock worth $277,295,000 after purchasing an additional 1,750,566 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Buying and Selling

In other Tapestry news, CEO Joanne C. Crevoiserat sold 48,795 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the sale, the chief executive officer owned 671,193 shares of the company's stock, valued at $103,947,659.91. The trade was a 6.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.32% of the company's stock.

Tapestry Stock Performance

NYSE TPR opened at $131.28 on Tuesday. The firm has a market capitalization of $26.52 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 1.31 and a beta of 1.45. 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 firm's fifty day moving average price is $143.08 and its two-hundred day moving average price is $133.06. Tapestry, Inc. has a 1 year low of $76.29 and a 1 year high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (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 during the quarter, compared to analysts' expectations of $1.79 billion. During the same period last year, the firm posted $1.03 earnings per share. The business's revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts anticipate 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. Stockholders 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 1.2%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry's payout ratio is presently 51.28%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus set a $165.00 target price on Tapestry in a research note on Thursday, March 12th. BNP Paribas Exane assumed coverage on shares of Tapestry in a research report on Friday, February 13th. They issued an "outperform" rating and a $176.00 price target on the stock. Weiss Ratings raised shares of Tapestry from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a report on Friday, February 6th. Finally, Telsey Advisory Group boosted their price target on shares of Tapestry to $150.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $160.67.

Tapestry 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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