Tapestry, Inc. $TPR Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its position in Tapestry, Inc. (NYSE:TPR) by 3.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 233,442 shares of the luxury accessories retailer’s stock after selling 7,705 shares during the period. Systematic Financial Management LP’s holdings in Tapestry were worth $32,941,000 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. Acumen Wealth Advisors LLC acquired a new stake in shares of Tapestry in the 4th quarter worth $28,000. Steph & Co. boosted its holdings 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 acquiring an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Tapestry during the fourth quarter worth about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Tapestry during the fourth quarter worth about $32,000. Finally, Triumph Capital Management purchased a new position in Tapestry during the third quarter worth about $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction 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 transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. The trade was a 13.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TPR. Robert W. Baird raised their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating and set a $164.00 target price on shares of Tapestry in a research note on Monday, July 6th. UBS Group raised their price target on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Citigroup lifted their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.06.

Tapestry Stock Down 3.4%

TPR stock opened at $138.78 on Friday. The company has a market cap of $28.04 billion, a P/E ratio of 44.48, a P/E/G ratio of 1.32 and a beta of 1.43. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The company’s 50-day moving average price is $142.18 and its 200 day moving average price is $142.49. 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) last issued 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. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, research analysts expect that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued 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 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.