VIRGINIA RETIREMENT SYSTEMS ET Al Cuts Holdings in Tapestry, Inc. $TPR

Key Points

• Virginia Retirement Systems trimmed its Tapestry stake by 10.1% in the fourth quarter, selling 14,668 shares and leaving it with 131,200 shares valued at about $16.8 million.
• Tapestry’s latest quarterly results were strong, with earnings of $1.66 per share and revenue of $1.92 billion, both beating analyst expectations. Revenue rose 21.2% year over year, and the company reaffirmed FY2026 EPS guidance of 6.95.
• Despite the earnings beat, the stock traded at $132.76 and recent insider selling included CEO Joanne C. Crevoiserat and Director Thomas Greco. Analysts remain generally positive, with an average rating of Moderate Buy and an average price target of $160.67.

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,200 shares of the luxury accessories retailer's stock after selling 14,668 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.06% of Tapestry worth $16,763,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TPR. Massachusetts Financial Services Co. MA increased its holdings in Tapestry by 250.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer's stock valued at $277,295,000 after buying an additional 1,750,566 shares during the period. State Street Corp increased its holdings in Tapestry by 19.3% during 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 during the period. Voloridge Investment Management LLC increased its holdings in Tapestry by 160.5% during 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 during the period. Two Sigma Investments LP increased its holdings in Tapestry by 426.8% during the third quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer's stock valued at $127,092,000 after buying an additional 909,433 shares during the period. Finally, Barclays PLC increased its holdings in Tapestry by 191.9% during the third quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer's stock valued at $146,891,000 after buying an additional 852,908 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TPR. Barclays set a $179.00 price target on shares of Tapestry and gave the stock an "overweight" rating in a report on Friday, February 6th. Argus set a $165.00 price target on shares of Tapestry in a report on Thursday, March 12th. Raymond James Financial reaffirmed an "outperform" rating and issued a $165.00 price target on shares of Tapestry in a report on Thursday, April 23rd. Jefferies Financial Group lowered shares of Tapestry from a "buy" rating to a "hold" rating and cut their price target for the stock from $142.00 to $138.00 in a report on Wednesday, January 14th. Finally, BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They issued an "outperform" rating and a $176.00 price target on the stock. Two equities research 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. Based on data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and an average target price of $160.67.

Insiders Place Their Bets

In related news, CEO Joanne C. Crevoiserat sold 48,795 shares of the business's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the transaction, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Greco sold 14,245 shares of the business's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the transaction, the director owned 21,302 shares of the company's stock, valued at $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.32% of the company's stock.

Tapestry Price Performance

Shares of TPR opened at $132.76 on Thursday. The firm has a market capitalization of $26.82 billion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 1.34 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, Inc. has a 1-year low of $76.29 and a 1-year high of $161.97. The company's fifty day moving average price is $144.48 and its 200-day moving average price is $132.72.

Tapestry (NYSE:TPR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share 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 analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business's quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities research analysts predict 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. Investors 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 dividend on an annualized basis and a yield of 1.2%. Tapestry's payout ratio is currently 51.28%.

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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