WCM Investment Management LLC Purchases 191,174 Shares of Tapestry, Inc. $TPR

Key Points

• WCM Investment Management increased its Tapestry position by 20.4% in the first quarter, buying 191,174 more shares and bringing its total stake to 1,130,317 shares worth about $154.8 million.
• Tapestry’s latest quarter topped expectations, with EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected, while sales rose 21.2% year over year.
• Wall Street remains generally positive on the stock, with an average rating of Moderate Buy and an average price target of $170.06; Tapestry also paid a quarterly dividend of $0.40 per share.

WCM Investment Management LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 20.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,130,317 shares of the luxury accessories retailer's stock after acquiring an additional 191,174 shares during the period. WCM Investment Management LLC owned about 0.56% of Tapestry worth $154,763,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. bought a new stake in shares of Tapestry during the 4th quarter valued at $8,109,000. Norges Bank bought a new position in shares of Tapestry in the 4th quarter worth about $345,349,000. Keystone Investors PTE Ltd. increased its stake in shares of Tapestry by 17.4% in the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer's stock worth $8,001,000 after acquiring an additional 9,303 shares in the last quarter. SteelPeak Wealth LLC purchased a new position in Tapestry during the 4th quarter valued at about $1,865,000. Finally, Aberdeen Group plc lifted its position in Tapestry by 34.7% during the 4th quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer's stock valued at $6,078,000 after acquiring an additional 12,251 shares during the period. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent research reports. Raymond James Financial restated an "outperform" rating and issued a $165.00 price objective on shares of Tapestry in a report on Thursday, April 23rd. Robert W. Baird lifted their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on Tapestry from $200.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Evercore set a $175.00 price target on Tapestry in a research note on Friday, May 8th. Finally, Sanford C. Bernstein restated an "outperform" rating and issued a $180.00 price target on shares of Tapestry in a research note on Tuesday, June 2nd. Two 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 company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $170.06.

Tapestry Stock Performance

Shares of Tapestry stock opened at $141.43 on Monday. The stock has a market cap of $28.57 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.30 and a beta of 1.43. The firm's 50-day moving average is $141.43 and its 200 day moving average is $142.12. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. 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 released 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 business had revenue of $1.92 billion during 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%. Tapestry's revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts anticipate that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was 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%.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $132.89, for a total value of $3,691,152.64. Following the transaction, the chief executive officer directly owned 652,434 shares of the company's stock, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by company insiders.

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.

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.