Principal Financial Group Inc. Purchases 16,834 Shares of Tapestry, Inc. $TPR

Principal Financial Group Inc. raised its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 6.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 293,418 shares of the luxury accessories retailer’s stock after acquiring an additional 16,834 shares during the quarter. Principal Financial Group Inc.’s holdings in Tapestry were worth $41,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Acumen Wealth Advisors LLC bought a new stake in shares of Tapestry in the fourth quarter valued at approximately $28,000. Triumph Capital Management purchased a new position in Tapestry in the 3rd quarter valued at approximately $29,000. Steph & Co. raised its holdings in Tapestry by 128.7% during the 4th quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after acquiring an additional 130 shares during the period. Flagship Harbor Advisors LLC bought a new stake in Tapestry during the 4th quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Tapestry during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction on 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 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 filing 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 on Tuesday, May 26th. The stock was sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the completion of the transaction, the chief executive officer owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This trade represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $141.43 on Friday. Tapestry, Inc. has a 52-week low of $92.62 and a 52-week high of $161.97. The stock has a fifty day moving average of $141.43 and a 200 day moving average of $142.04. 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 firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 45.33, a P/E/G ratio of 1.30 and a beta of 1.43.

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

Tapestry Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup lifted their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. Morgan Stanley restated an “overweight” rating and issued a $164.00 target price on shares of Tapestry in a research note on Monday, July 6th. Raymond James Financial reiterated an “outperform” rating and set a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. Finally, Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two research 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. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $170.06.

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.