Havemeyer Place LP Invests $2.01 Million in Tapestry, Inc. $TPR

Havemeyer Place LP bought a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 15,744 shares of the luxury accessories retailer’s stock, valued at approximately $2,012,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steph & Co. boosted its stake in shares of Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after acquiring an additional 130 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Tapestry during the 4th quarter worth approximately $31,000. Triumph Capital Management bought a new position in shares of Tapestry during the 3rd quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Tapestry by 2,720.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after acquiring an additional 272 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in shares of Tapestry by 157.4% during the 4th quarter. Sound Income Strategies LLC now owns 314 shares of the luxury accessories retailer’s stock worth $41,000 after acquiring an additional 192 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’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 completion of the transaction, the chief executive officer owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TPR. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. boosted their price target on Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. UBS Group upgraded Tapestry from a “neutral” rating to a “buy” rating and upped their target price for the company from $142.00 to $187.00 in a research report on Friday, May 8th. Finally, Evercore set a $175.00 target price on Tapestry in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.22.

Tapestry Price Performance

Shares of TPR stock opened at $139.95 on Friday. 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, Inc. has a twelve month low of $77.86 and a twelve month high of $161.97. The company has a market cap of $28.28 billion, a P/E ratio of 44.86, a P/E/G ratio of 1.42 and a beta of 1.42. The business has a fifty day simple moving average of $141.90 and a 200 day simple moving average of $136.18.

Tapestry (NYSE:TPR) last released its earnings results 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 firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The business’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, sell-side analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

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