Louisiana State Employees Retirement System Buys Shares of 10,300 Tapestry, Inc. $TPR

Louisiana State Employees Retirement System bought a new stake in Tapestry, Inc. (NYSE:TPR) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 10,300 shares of the luxury accessories retailer’s stock, valued at approximately $1,453,000.

Several other large investors have also modified their holdings of TPR. Acumen Wealth Advisors LLC acquired a new stake in shares of Tapestry during the fourth quarter worth $28,000. Steph & Co. raised its holdings 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 purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Tapestry during the fourth quarter worth about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Tapestry in the fourth quarter valued at about $32,000. Finally, Triumph Capital Management acquired a new stake in Tapestry in the third quarter valued at about $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. BTIG Research reiterated a “buy” rating and set a $180.00 target price on shares of Tapestry in a research report on Wednesday, June 10th. Argus set a $165.00 price target on Tapestry in a report on Thursday, March 12th. Evercore set a $175.00 price target on Tapestry in a research note on Friday, May 8th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a research report on Tuesday, June 2nd. 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 equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.65.

Tapestry Stock Up 0.1%

Tapestry stock opened at $144.19 on Friday. Tapestry, Inc. has a fifty-two week low of $86.68 and a fifty-two week high of $161.97. The firm has a market capitalization of $29.13 billion, a price-to-earnings ratio of 46.22, a price-to-earnings-growth ratio of 1.33 and a beta of 1.43. The stock’s fifty day moving average is $141.73 and its two-hundred day moving average is $141.03. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84.

Tapestry (NYSE:TPR) last released its quarterly 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 business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’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. Analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was 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 directly owned 652,434 shares in the company, valued at approximately $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 accessible through 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 value 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. 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.