United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires 42,376 Shares of Tapestry, Inc. $TPR

Key Points

• United Super boosted its Tapestry stake by 313.9% in the fourth quarter, buying 42,376 additional shares and bringing its total to 55,876 shares valued at about $7.14 million.
• Tapestry reported strong quarterly results, with earnings of $1.66 per share versus $1.30 expected and revenue of $1.92 billion, up 21.2% year over year.
• The company also announced a quarterly dividend of $0.40 per share, while analysts remain constructive overall with a consensus rating of “Moderate Buy” and an average price target of $160.67.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 313.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,876 shares of the luxury accessories retailer's stock after acquiring an additional 42,376 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Tapestry were worth $7,139,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Intech Investment Management LLC grew its stake in shares of Tapestry by 218.9% during the 4th quarter. Intech Investment Management LLC now owns 195,089 shares of the luxury accessories retailer's stock worth $24,927,000 after acquiring an additional 133,911 shares in the last quarter. Huntington National Bank grew its stake in shares of Tapestry by 4.9% during the 4th quarter. Huntington National Bank now owns 3,369 shares of the luxury accessories retailer's stock worth $430,000 after acquiring an additional 156 shares in the last quarter. IPG Investment Advisors LLC bought a new position in shares of Tapestry during the 4th quarter worth approximately $1,767,000. Severin Investments LLC bought a new position in shares of Tapestry during the 4th quarter worth approximately $641,000. Finally, Geode Capital Management LLC grew its stake in shares of Tapestry by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer's stock worth $753,482,000 after acquiring an additional 203,764 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Trading Up 0.0%

Shares of Tapestry stock opened at $145.40 on Friday. The business has a fifty day simple moving average of $142.31 and a two-hundred day simple moving average of $134.90. Tapestry, Inc. has a 1 year low of $76.92 and a 1 year high of $161.97. The company has a market capitalization of $29.38 billion, a price-to-earnings ratio of 46.60, a P/E/G ratio of 1.48 and a beta of 1.45. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly 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 business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm posted $1.03 EPS. The company'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. Research analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

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

Analysts Set New Price Targets

TPR has been the subject of several research reports. Zacks Research raised shares of Tapestry from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 9th. Wall Street Zen raised shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Evercore set a $175.00 price objective on Tapestry in a report on Friday, May 8th. Barclays set a $179.00 price objective on Tapestry and gave the company an "overweight" rating in a report on Friday, February 6th. Finally, Sanford C. Bernstein reissued an "outperform" rating and issued a $170.00 price objective on shares of Tapestry in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $160.67.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's stock in a transaction 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 sale, the chief executive officer directly 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 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.

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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