Illinois Municipal Retirement Fund Raises Holdings in Tapestry, Inc. $TPR

Illinois Municipal Retirement Fund grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 12.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,384 shares of the luxury accessories retailer’s stock after purchasing an additional 13,033 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.06% of Tapestry worth $16,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TPR. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Tapestry during the 4th quarter valued at approximately $8,109,000. Norges Bank acquired a new stake in shares of Tapestry in the 4th quarter worth approximately $345,349,000. Keystone Investors PTE Ltd. increased its stake in Tapestry by 17.4% in the 4th quarter. Keystone Investors PTE Ltd. now owns 62,622 shares of the luxury accessories retailer’s stock valued at $8,001,000 after purchasing an additional 9,303 shares in the last quarter. Aberdeen Group plc increased its stake in Tapestry by 34.7% in the 4th quarter. Aberdeen Group plc now owns 47,573 shares of the luxury accessories retailer’s stock valued at $6,078,000 after purchasing an additional 12,251 shares in the last quarter. Finally, SteelPeak Wealth LLC purchased a new position in Tapestry in the 4th quarter valued at approximately $1,865,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Tapestry Price Performance

Tapestry stock opened at $144.29 on Friday. Tapestry, Inc. has a 1 year low of $92.62 and a 1 year high of $161.97. The firm has a 50 day moving average price of $141.27 and a 200 day moving average price of $142.05. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 1.29 and a beta of 1.43. 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 quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping the consensus estimate of $1.30 by $0.36. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $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 6.96 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is 51.28%.

Insider Buying and Selling at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total value of $3,691,152.64. Following the sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. This trade 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. Company insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group upped their target price on Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Weiss Ratings downgraded shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Robert W. Baird lifted their target price on shares of Tapestry from $160.00 to $165.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Barclays upped their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a report on Thursday. Finally, BTIG Research reiterated a “buy” rating and issued a $180.00 price target on shares of Tapestry in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

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.