Tredje AP fonden Purchases New Position in Tapestry, Inc. $TPR

Tredje AP fonden bought a new position in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, HoldingsChannel.com reports. The fund bought 57,995 shares of the luxury accessories retailer’s stock, valued at approximately $7,410,000.

Other institutional investors also recently modified their holdings of the company. Steph & Co. raised 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 worth $30,000 after acquiring an additional 130 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Tapestry in the third quarter worth about $26,000. Flagship Harbor Advisors LLC bought a new position in shares of Tapestry in the fourth quarter worth about $31,000. Triumph Capital Management bought a new position in shares of Tapestry in the third quarter worth about $29,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Tapestry by 2,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after acquiring an additional 272 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a research note on Tuesday, February 10th. Argus set a $165.00 target price on shares of Tapestry in a research note on Thursday, March 12th. Finally, Telsey Advisory Group boosted their target price on shares of Tapestry to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $160.67.

Tapestry Stock Performance

Shares of Tapestry stock opened at $131.65 on Wednesday. The firm has a fifty day moving average of $142.83 and a two-hundred day moving average of $133.19. The stock has a market capitalization of $26.60 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 1.33 and a beta of 1.45. Tapestry, Inc. has a 52 week low of $76.29 and a 52 week high of $161.97. 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 (NYSE:TPR) last issued its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Tapestry’s payout ratio is presently 51.28%.

Insider Activity at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’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 transaction of $3,691,152.64. Following the completion of the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

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.