Y Intercept Hong Kong Ltd Takes Position in Tapestry, Inc. $TPR

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Tapestry during the first quarter, buying 43,882 shares valued at about $6.19 million.
• Tapestry’s recent earnings topped expectations, with Q1 EPS of $1.66 versus $1.30 expected and revenue of $1.92 billion, up 21.2% year over year.
• Analysts remain broadly positive on the stock: the consensus rating is Moderate Buy, with a consensus price target of $167.65.

Y Intercept Hong Kong Ltd purchased a new position in shares of Tapestry, Inc. (NYSE:TPR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,882 shares of the luxury accessories retailer's stock, valued at approximately $6,192,000.

Other institutional investors also recently modified their holdings of the company. Acumen Wealth Advisors LLC acquired a new position in Tapestry during the 4th quarter worth about $28,000. Triumph Capital Management bought a new stake in shares of Tapestry in the 3rd quarter valued at about $29,000. Steph & Co. increased its stake in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer's stock valued at $30,000 after buying an additional 130 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Tapestry in the fourth quarter valued at about $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Tapestry during the fourth quarter worth about $32,000. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPR. BTIG Research reiterated a "buy" rating and issued a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Wall Street Zen upgraded shares of Tapestry from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, June 12th. Finally, Weiss Ratings cut shares of Tapestry from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Tapestry has an average rating of "Moderate Buy" and a consensus price target of $167.65.

Tapestry Stock Performance

Shares of TPR stock opened at $144.19 on Friday. The firm has a 50 day moving average of $141.69 and a 200-day moving average of $141.05. The company has a market cap of $29.13 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.43. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. Tapestry, Inc. has a 52 week low of $86.68 and a 52 week high of $161.97.

Tapestry (NYSE:TPR - Get Free Report) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.36. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry's quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

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

Insider Transactions at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly 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 SEC, which is available at 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 the company'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 value of $2,738,371.14. Following the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $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 corporate 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.

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