Tapestry, Inc. $TPR is Renaissance Group LLC’s 7th Largest Position

Renaissance Group LLC lowered its position in shares of Tapestry, Inc. (NYSE:TPR) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 316,766 shares of the luxury accessories retailer’s stock after selling 12,122 shares during the period. Tapestry makes up approximately 1.6% of Renaissance Group LLC’s portfolio, making the stock its 7th largest position. Renaissance Group LLC owned about 0.16% of Tapestry worth $40,473,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Woodline Partners LP raised its position in Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Tapestry during the 1st quarter worth $493,000. Sivia Capital Partners LLC purchased a new position in shares of Tapestry during the 2nd quarter worth $602,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tapestry during the 2nd quarter worth about $6,307,000. Finally, Brown Advisory Inc. raised its holdings in Tapestry by 13.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock valued at $319,000 after buying an additional 439 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.32% of the company’s stock.

Tapestry Trading Down 3.2%

NYSE TPR opened at $140.90 on Thursday. Tapestry, Inc. has a 52 week low of $78.59 and a 52 week high of $161.97. The firm has a 50 day moving average of $142.10 and a two-hundred day moving average of $137.25. 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 stock has a market capitalization of $28.47 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, beating 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 net margin of 8.44% and a return on equity of 229.70%. The company’s revenue was up 21.2% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts expect that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, June 5th. Tapestry’s payout ratio is 51.28%.

Wall Street Analyst Weigh In

A number of research analysts have commented on TPR shares. Argus set a $165.00 target price on shares of Tapestry in a research report on Thursday, March 12th. Citigroup boosted their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $142.00 to $187.00 in a research report on Friday, May 8th. Finally, BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price for the company. 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 company’s stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $161.22.

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.