Tapestry, Inc. $TPR Holdings Trimmed by Kestra Advisory Services LLC

Kestra Advisory Services LLC reduced its position in shares of Tapestry, Inc. (NYSE:TPR) by 38.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,219 shares of the luxury accessories retailer’s stock after selling 7,556 shares during the quarter. Kestra Advisory Services LLC’s holdings in Tapestry were worth $1,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Schroder Investment Management Group grew its position in Tapestry by 92.8% during the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock valued at $1,194,678,000 after purchasing an additional 4,500,850 shares in the last quarter. Norges Bank acquired a new stake in shares of Tapestry during the 4th quarter valued at $345,349,000. Wellington Management Group LLP raised its holdings in shares of Tapestry by 632.3% during the fourth quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock worth $302,368,000 after acquiring an additional 2,043,353 shares in the last quarter. State Street Corp lifted its holdings in shares of Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after buying an additional 1,494,193 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its stake in shares of Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after buying an additional 1,162,442 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TPR. UBS Group raised their price objective on shares of Tapestry from $187.00 to $230.00 and gave the company a “buy” rating in a research 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. BTIG Research reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Barclays increased their target price on shares of Tapestry from $179.00 to $182.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.06.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 19,557 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction 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 sale, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Shares of NYSE TPR opened at $141.06 on Tuesday. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. The company has a market cap of $28.50 billion, a P/E ratio of 45.21, a P/E/G ratio of 1.30 and a beta of 1.43. The business’s 50 day moving average is $141.58 and its two-hundred day moving average is $142.21. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts expect that Tapestry, Inc. will post 6.96 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a dividend of $0.40 per share. 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 presently 51.28%.

About Tapestry

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.