New York State Teachers Retirement System Decreases Stock Holdings in Tapestry, Inc. $TPR

New York State Teachers Retirement System trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 174,177 shares of the luxury accessories retailer’s stock after selling 15,090 shares during the period. New York State Teachers Retirement System’s holdings in Tapestry were worth $22,255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fisher Asset Management LLC lifted its holdings in Tapestry by 21.7% in the third quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock valued at $68,868,000 after acquiring an additional 108,278 shares during the period. DNB Asset Management AS lifted its holdings in Tapestry by 1,331.4% in the third quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock valued at $4,470,000 after acquiring an additional 36,720 shares during the period. Stevens Capital Partners bought a new position in Tapestry in the third quarter valued at about $8,880,000. Nordea Investment Management AB bought a new position in Tapestry in the third quarter valued at about $2,042,000. Finally, Generali Asset Management SPA SGR bought a new position in Tapestry in the third quarter valued at about $2,377,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TPR shares. Evercore increased their target price on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. UBS Group increased their target price on Tapestry from $141.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. BTIG Research increased their target price on Tapestry from $175.00 to $180.00 and gave the company a “buy” rating in a report on Friday, April 24th. Citigroup raised their price objective on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 11th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $153.89.

Insider Activity at Tapestry

In related news, Director Anne Gates sold 6,498 shares of Tapestry stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total transaction of $999,327.42. Following the sale, the director owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. This trade represents a 22.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total value of $329,500.09. Following the sale, the vice president directly owned 18,475 shares in the company, valued at $2,835,358.25. This trade represents a 10.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 164,956 shares of company stock worth $25,297,262 in the last three months. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Down 1.5%

NYSE TPR opened at $142.83 on Friday. The stock’s 50-day moving average price is $147.31 and its 200-day moving average price is $131.64. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a 52 week low of $70.81 and a 52 week high of $161.97. The company has a market capitalization of $28.92 billion, a P/E ratio of 59.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.46.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the company earned $2.00 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 6.46 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is 66.12%.

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.