Whittier Trust Co. Grows Holdings in Tapestry, Inc. $TPR

Key Points

• Whittier Trust Co. dramatically increased its stake in Tapestry during the first quarter, boosting holdings by 6,568.8% to 31,877 shares valued at about $4.58 million.
• Tapestry reported better-than-expected fiscal Q3 results, with EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion versus $1.79 billion expected, while revenue rose 21.2% year over year.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $169.88, even as two CEOs recently sold shares through pre-arranged trading plans.

Whittier Trust Co. increased its holdings in Tapestry, Inc. (NYSE:TPR - Free Report) by 6,568.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,877 shares of the luxury accessories retailer's stock after acquiring an additional 31,399 shares during the quarter. Whittier Trust Co.'s holdings in Tapestry were worth $4,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of TPR. DGS Capital Management LLC boosted its stake in Tapestry by 5.3% during the first quarter. DGS Capital Management LLC now owns 6,232 shares of the luxury accessories retailer's stock worth $879,000 after acquiring an additional 314 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of Tapestry during the first quarter valued at approximately $210,000. Kepler Cheuvreux Suisse SA purchased a new position in shares of Tapestry during the first quarter valued at approximately $3,754,000. Praxis Investment Management Inc. boosted its position in shares of Tapestry by 8.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,992 shares of the luxury accessories retailer's stock worth $846,000 after purchasing an additional 452 shares in the last quarter. Finally, Wealthstar Advisors LLC bought a new stake in shares of Tapestry in the 1st quarter worth approximately $1,071,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm's 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 sale, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry 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 completion of the sale, the chief executive officer directly 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. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Performance

Shares of Tapestry stock traded up $1.50 during trading on Tuesday, hitting $147.00. 242,280 shares of the company's stock traded hands, compared to its average volume of 2,364,023. Tapestry, Inc. has a 1 year low of $90.67 and a 1 year high of $161.97. The business has a 50-day simple moving average of $141.67 and a 200-day simple moving average of $141.33. The stock has a market capitalization of $29.70 billion, a P/E ratio of 47.15, a PEG ratio of 1.34 and a beta of 1.43. 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 issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping 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 return on equity of 229.70% and a net margin of 8.44%.Tapestry's revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Dividend Announcement

The business also recently disclosed 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 was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry's dividend payout ratio is 51.28%.

Analyst Ratings Changes

A number of research analysts recently weighed in on TPR shares. UBS Group raised their price objective on Tapestry from $187.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Sanford C. Bernstein reissued an "outperform" rating and issued a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. Morgan Stanley reissued an "overweight" rating and issued a $164.00 target price on shares of Tapestry in a research note on Monday. Citigroup lifted their price target on Tapestry from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 20th. Two research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $169.88.

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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