Wealthstar Advisors LLC Invests $1.07 Million in Tapestry, Inc. $TPR

Key Points

• Wealthstar Advisors LLC opened a new position in Tapestry, buying 7,591 shares valued at about $1.07 million in the first quarter.
• Tapestry’s latest earnings beat expectations, with EPS of $1.66 and revenue of $1.92 billion, both above analyst forecasts, while revenue rose 21.2% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and a consensus price target of $167.65; the company also paid a quarterly dividend of $0.40 per share.

Wealthstar Advisors LLC purchased a new position in Tapestry, Inc. (NYSE:TPR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,591 shares of the luxury accessories retailer's stock, valued at approximately $1,071,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Woodline Partners LP raised its stake in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer's stock valued at $1,231,000 after acquiring an additional 3,495 shares in the last quarter. Acadian Asset Management LLC bought a new position in Tapestry in the first quarter worth approximately $493,000. Sivia Capital Partners LLC bought a new position in Tapestry in the second quarter worth approximately $602,000. Arrowstreet Capital Limited Partnership purchased a new position in Tapestry during the 2nd quarter worth $6,307,000. Finally, Brown Advisory Inc. raised its position in Tapestry by 13.8% during the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer's stock valued at $319,000 after purchasing an additional 439 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TPR shares. Robert W. Baird increased their price target on Tapestry from $160.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. BTIG Research restated a "buy" rating and issued a $180.00 price objective on shares of Tapestry in a report on Wednesday, June 10th. Evercore set a $175.00 price objective on shares of Tapestry in a research note on Friday, May 8th. Sanford C. Bernstein reiterated an "outperform" rating and set a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. Finally, Citigroup increased their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.65.

Tapestry Stock Down 0.0%

Shares of NYSE TPR opened at $144.19 on Friday. Tapestry, Inc. has a 12-month low of $86.68 and a 12-month high of $161.97. The stock's fifty day simple moving average is $141.69 and its two-hundred day simple moving average is $141.05. The stock has a market capitalization of $29.13 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.43. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping 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 firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company posted $1.03 EPS. The business's revenue for the quarter was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry's dividend payout ratio is presently 51.28%.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred 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 transaction, the chief executive officer owned 652,434 shares of the company's stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer owned 123,258 shares of the company's stock, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.32% of the company's stock.

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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