Storgate LLC Makes New $729,000 Investment in Tapestry, Inc. $TPR

Storgate LLC bought a new position in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 5,709 shares of the luxury accessories retailer’s stock, valued at approximately $729,000. Tapestry comprises about 0.6% of Storgate LLC’s holdings, making the stock its 28th biggest position.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Tapestry by 21.7% during the 3rd quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock valued at $68,868,000 after purchasing an additional 108,278 shares during the period. DNB Asset Management AS grew its stake in shares of Tapestry by 1,331.4% during the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock valued at $4,470,000 after purchasing an additional 36,720 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Tapestry by 23.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 217,408 shares of the luxury accessories retailer’s stock valued at $24,615,000 after purchasing an additional 41,556 shares during the period. Advisory Research Inc. grew its stake in shares of Tapestry by 30.1% during the 3rd quarter. Advisory Research Inc. now owns 228,107 shares of the luxury accessories retailer’s stock valued at $25,826,000 after purchasing an additional 52,747 shares during the period. Finally, Counterpoint Mutual Funds LLC grew its stake in shares of Tapestry by 420.8% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 24,233 shares of the luxury accessories retailer’s stock valued at $2,744,000 after purchasing an additional 19,580 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the subject of a number of recent research reports. Sanford C. Bernstein restated an “outperform” rating and set a $180.00 price target on shares of Tapestry in a research note on Tuesday, June 2nd. BTIG Research restated a “buy” rating and set a $180.00 price target on shares of Tapestry in a research note on Wednesday. UBS Group upgraded Tapestry from a “neutral” rating to a “buy” rating and boosted their price target for the company from $142.00 to $187.00 in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Citigroup boosted 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 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $165.12.

Tapestry Trading Up 1.5%

Shares of NYSE:TPR opened at $147.58 on Friday. The stock has a 50 day moving average of $142.25 and a 200 day moving average of $137.60. The company has a market cap of $29.82 billion, a PE ratio of 47.30, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. 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, Inc. has a 12-month low of $78.59 and a 12-month high of $161.97.

Tapestry (NYSE:TPR) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The firm’s revenue was up 21.2% on a year-over-year basis. During the same period 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 expect that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s payout ratio is 51.28%.

Insider Buying and Selling

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 stock was 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 directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total value of $2,738,371.14. Following the transaction, the chief executive officer owned 123,258 shares of the company’s stock, 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. Insiders own 1.32% of the company’s stock.

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.