California State Teachers Retirement System Sells 11,485 Shares of Tapestry, Inc. $TPR

California State Teachers Retirement System decreased its position in shares of Tapestry, Inc. (NYSE:TPR) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,953 shares of the luxury accessories retailer’s stock after selling 11,485 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Tapestry worth $44,725,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors grew its holdings in shares of Tapestry by 3.6% during the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after purchasing an additional 69 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in Tapestry by 4.7% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after buying an additional 71 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Tapestry by 2.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after buying an additional 73 shares during the last quarter. NewEdge Wealth LLC boosted its position in Tapestry by 2.7% during the 1st quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock worth $450,000 after buying an additional 85 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in Tapestry by 0.5% during the 4th quarter. Rafferty Asset Management LLC now owns 21,240 shares of the luxury accessories retailer’s stock worth $2,714,000 after buying an additional 108 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Morgan Stanley reiterated an “overweight” rating and set a $164.00 price target on shares of Tapestry in a report on Monday, July 6th. BTIG Research reissued a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $173.50.

Tapestry Stock Performance

NYSE:TPR opened at $152.34 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. Tapestry, Inc. has a fifty-two week low of $92.62 and a fifty-two week high of $161.97. The company has a 50 day simple moving average of $143.71 and a two-hundred day simple moving average of $143.07. The company has a market capitalization of $30.78 billion, a PE ratio of 48.83, a P/E/G ratio of 1.37 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts anticipate that Tapestry, Inc. will post 6.97 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a $0.40 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is presently 51.28%.

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.