Polymer Capital Management HK LTD Sells 80,469 Shares of Tapestry, Inc. $TPR

Polymer Capital Management HK LTD lowered its position in Tapestry, Inc. (NYSE:TPR) by 58.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,519 shares of the luxury accessories retailer’s stock after selling 80,469 shares during the quarter. Tapestry accounts for about 1.0% of Polymer Capital Management HK LTD’s investment portfolio, making the stock its 24th biggest holding. Polymer Capital Management HK LTD’s holdings in Tapestry were worth $7,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TPR. Woodline Partners LP grew its holdings in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after acquiring an additional 3,495 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Tapestry in the first quarter worth $493,000. Sivia Capital Partners LLC bought a new stake in shares of Tapestry in the second quarter worth $602,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Tapestry in the second quarter worth $6,307,000. Finally, Brown Advisory Inc. grew its holdings in shares of Tapestry by 13.8% in the second quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock worth $319,000 after acquiring an additional 439 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s 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 transaction, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 dated 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 completion of the transaction, the chief executive officer owned 123,258 shares in the company, valued at $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by insiders.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. Argus set a $165.00 price objective on Tapestry in a report on Thursday, March 12th. BNP Paribas Exane initiated coverage on Tapestry in a research report on Friday, February 13th. They set an “outperform” rating and a $176.00 target price on the stock. Citigroup lifted their target price on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday. Finally, UBS Group upgraded Tapestry from a “neutral” rating to a “buy” rating and lifted their target price for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $165.12.

Tapestry Price Performance

NYSE TPR opened at $147.58 on Friday. The company has a market capitalization 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 debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The business’s fifty day moving average is $142.25 and its 200 day moving average is $137.60. Tapestry, Inc. has a fifty-two week low of $78.59 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.36. The company had revenue of $1.92 billion for 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%.Tapestry’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts predict that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

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

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.