Ritholtz Wealth Management Raises Stock Position in Tapestry, Inc. $TPR

Ritholtz Wealth Management raised its position in Tapestry, Inc. (NYSE:TPR) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,116 shares of the luxury accessories retailer’s stock after purchasing an additional 4,898 shares during the quarter. Ritholtz Wealth Management’s holdings in Tapestry were worth $10,882,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TPR. Acumen Wealth Advisors LLC acquired a new position in Tapestry in the fourth quarter valued at approximately $28,000. Triumph Capital Management acquired a new stake in Tapestry during the third quarter worth $29,000. Steph & Co. increased its stake in Tapestry by 128.7% during 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 last quarter. Flagship Harbor Advisors LLC purchased a new stake in Tapestry in the fourth quarter valued at $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Tapestry in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore set a $175.00 price target on Tapestry in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, June 12th. BTIG Research reaffirmed a “buy” rating and issued a $180.00 target price on shares of Tapestry in a research report on Wednesday, June 10th. Citigroup increased their target price on shares of Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird lifted their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. 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 stock. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $167.65.

Tapestry Trading Down 0.7%

Shares of NYSE TPR opened at $149.51 on Thursday. Tapestry, Inc. has a twelve month low of $84.12 and a twelve month high of $161.97. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The stock has a fifty day simple moving average of $142.53 and a 200-day simple moving average of $139.92. The stock has a market capitalization of $30.21 billion, a PE ratio of 47.92, a PEG ratio of 1.53 and a beta of 1.42.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (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 firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company earned $1.03 EPS. Tapestry’s revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities analysts forecast that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

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

Insider Activity

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 652,434 shares in the company, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 that occurred 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 sale, the chief executive officer directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by corporate insiders.

About Tapestry

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.