Smith Group Asset Management LLC Acquires 33,411 Shares of Tapestry, Inc. $TPR

Smith Group Asset Management LLC boosted its holdings in Tapestry, Inc. (NYSE:TPR) by 11.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 333,486 shares of the luxury accessories retailer’s stock after purchasing an additional 33,411 shares during the quarter. Tapestry comprises 2.4% of Smith Group Asset Management LLC’s portfolio, making the stock its 15th largest position. Smith Group Asset Management LLC owned approximately 0.17% of Tapestry worth $47,058,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Acumen Wealth Advisors LLC purchased a new position in Tapestry during the fourth quarter valued at $28,000. Triumph Capital Management purchased a new stake in shares of Tapestry during the third quarter valued at approximately $29,000. Steph & Co. increased its position in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after acquiring an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Tapestry during the 4th quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Tapestry in the 4th quarter worth $32,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $150.90 on Wednesday. Tapestry, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The firm has a market capitalization of $30.49 billion, a P/E ratio of 48.36, a PEG ratio of 1.35 and a beta of 1.43. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The company has a 50-day moving average price of $143.17 and a 200-day moving average price of $142.83.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 net margin of 8.44% and a return on equity of 229.70%. The business’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts anticipate that Tapestry, Inc. will post 6.97 earnings per share for the current year.

Tapestry Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TPR. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Citigroup boosted their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $180.00 target price on shares of Tapestry in a report on Tuesday, June 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $164.00 target price on shares of Tapestry in a research report on Monday, July 6th. Finally, Evercore set a $175.00 target price on shares of Tapestry in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.50.

Insider Buying and Selling at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction of $3,691,152.64. Following the completion of the sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.32% of the company’s stock.

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.