Castleark Management LLC Takes Position in Tapestry, Inc. $TPR

Castleark Management LLC acquired a new position in Tapestry, Inc. (NYSE:TPR) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 142,084 shares of the luxury accessories retailer’s stock, valued at approximately $18,154,000.

A number of other hedge funds also recently added to or reduced their stakes in TPR. Triumph Capital Management purchased a new stake in Tapestry in the third quarter worth about $29,000. Steph & Co. lifted its stake in Tapestry by 128.7% in the fourth 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 purchased a new stake in Tapestry in the fourth quarter worth about $31,000. Cornerstone Planning Group LLC lifted its stake in Tapestry by 2,720.0% in the fourth 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, HM Payson & Co. lifted its stake in Tapestry by 125.8% in the fourth quarter. HM Payson & Co. now owns 289 shares of the luxury accessories retailer’s stock worth $37,000 after acquiring an additional 161 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In other news, 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The transaction 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 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 represents a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is owned by insiders.

Tapestry Trading Up 1.5%

Shares of TPR stock opened at $147.58 on Friday. Tapestry, Inc. has a fifty-two week low of $78.59 and a fifty-two week high of $161.97. 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 stock’s fifty day moving average is $142.25 and its two-hundred day moving average is $137.60. The firm has a market capitalization of $29.82 billion, a P/E ratio of 47.30, a PEG ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR) last posted 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. 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 analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts expect that Tapestry, Inc. will post 6.95 earnings per share 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 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 is Friday, June 5th. Tapestry’s payout ratio is currently 51.28%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPR. UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $142.00 to $187.00 in a research note on Friday, May 8th. BTIG Research restated a “buy” rating and set a $180.00 price objective on shares of Tapestry in a report on Wednesday. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. increased their price target on shares of Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday. Finally, BNP Paribas Exane assumed coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average target price of $165.12.

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.