Tapestry, Inc. $TPR Shares Sold by Boothbay Fund Management LLC

Boothbay Fund Management LLC lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 47.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,394 shares of the luxury accessories retailer’s stock after selling 132,750 shares during the quarter. Boothbay Fund Management LLC’s holdings in Tapestry were worth $16,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Tapestry by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after purchasing an additional 606,686 shares during the period. Geode Capital Management LLC raised its position in Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after purchasing an additional 158,782 shares during the period. SRS Investment Management LLC lifted its stake in Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after purchasing an additional 589,000 shares in the last quarter. Schroder Investment Management Group lifted its stake in Tapestry by 21.1% during the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after purchasing an additional 846,553 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after buying an additional 760,646 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on TPR. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. UBS Group restated a “neutral” rating and set a $141.00 target price on shares of Tapestry in a report on Monday, February 9th. BTIG Research lifted their target price on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 6th. BNP Paribas Exane initiated coverage on shares of Tapestry in a research note on Friday, February 13th. They set an “outperform” rating and a $176.00 price target on the stock. Finally, Zacks Research raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.06.

Insider Activity

In related news, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total value of $329,500.09. Following the completion of the transaction, the vice president owned 18,475 shares in the company, valued at $2,835,358.25. The trade was a 10.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the transaction, the insider owned 26,942 shares of the company’s stock, valued at $4,192,714.04. This trade represents a 25.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 164,956 shares of company stock valued at $25,297,262. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Down 0.4%

Shares of NYSE TPR opened at $142.12 on Friday. The stock has a market cap of $28.77 billion, a P/E ratio of 58.73, a PEG ratio of 1.70 and a beta of 1.55. The business’s fifty day simple moving average is $141.96 and its 200-day simple moving average is $123.09. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $161.97. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm posted $2.00 EPS. Tapestry’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s payout ratio is currently 66.12%.

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.