Castleark Management LLC Acquires 62,386 Shares of Tapestry, Inc. $TPR

Castleark Management LLC increased its holdings in Tapestry, Inc. (NYSE:TPR) by 43.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,470 shares of the luxury accessories retailer’s stock after acquiring an additional 62,386 shares during the period. Tapestry comprises 1.0% of Castleark Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Castleark Management LLC owned 0.10% of Tapestry worth $28,853,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Family Manage LLC raised its stake in shares of Tapestry by 19.9% in the first quarter. Family Manage LLC now owns 3,332 shares of the luxury accessories retailer’s stock worth $470,000 after purchasing an additional 553 shares during the last quarter. Quadcap Wealth Management LLC bought a new position in shares of Tapestry in the first quarter valued at approximately $411,000. OMERS ADMINISTRATION Corp boosted its position in shares of Tapestry by 31.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 22,731 shares of the luxury accessories retailer’s stock valued at $3,208,000 after buying an additional 5,429 shares during the last quarter. Lombard Odier Asset Management Switzerland SA purchased a new position in shares of Tapestry during the first quarter valued at approximately $1,724,000. Finally, Lombard Odier Asset Management USA Corp bought a new stake in Tapestry during the first quarter worth $301,000. Institutional investors own 90.77% of the company’s stock.

Insider Activity

In related news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 directly owned 652,434 shares in the company, valued at approximately $86,701,954.26. This represents a 4.08% decrease in their position. 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 corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup raised their price objective on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and issued a $164.00 target price on shares of Tapestry in a research note on Monday, July 6th. Evercore set a $175.00 target price on shares of Tapestry in a report on Friday, May 8th. Zacks Research lowered shares of Tapestry from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.06.

Tapestry Stock Performance

Shares of Tapestry stock opened at $142.82 on Monday. The business’s fifty day simple moving average is $142.46 and its 200 day simple moving average is $142.59. The firm has a market capitalization of $28.86 billion, a P/E ratio of 45.78, a price-to-earnings-growth ratio of 1.30 and a beta of 1.43. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. 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 posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.36. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, analysts anticipate that Tapestry, Inc. will post 6.97 EPS for the current year.

Tapestry Dividend Announcement

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