SteelPeak Wealth LLC Has $2.92 Million Stock Position in Tapestry, Inc. $TPR

SteelPeak Wealth LLC lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 41.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,705 shares of the luxury accessories retailer’s stock after buying an additional 6,109 shares during the period. SteelPeak Wealth LLC’s holdings in Tapestry were worth $2,922,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Acumen Wealth Advisors LLC bought a new stake in Tapestry during the 4th quarter worth $28,000. Steph & Co. raised its position in Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in Tapestry in the fourth quarter valued at about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Tapestry during the fourth quarter valued at about $32,000. Finally, Triumph Capital Management acquired a new position in shares of Tapestry in the third quarter valued at approximately $29,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TPR has been the subject of a number of research reports. Robert W. Baird raised their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. UBS Group boosted their target price on shares of Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Citigroup upped their price target on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price target on shares of Tapestry in a research note on Tuesday, June 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and set a $164.00 price target on shares of Tapestry in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.06.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated 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 owned 123,258 shares in the company, valued at $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred 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 sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is owned by insiders.

Tapestry Trading Down 1.9%

NYSE:TPR opened at $141.43 on Friday. The firm’s fifty day moving average is $141.43 and its 200-day moving average is $142.04. 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, Inc. has a 52 week low of $92.62 and a 52 week high of $161.97. The firm has a market cap of $28.57 billion, a P/E ratio of 45.33, a P/E/G ratio of 1.32 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. Tapestry’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts expect that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Announces Dividend

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

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.