Tapestry, Inc. $TPR Shares Sold by Basepoint Wealth LLC

Basepoint Wealth LLC cut its position in shares of Tapestry, Inc. (NYSE:TPR) by 23.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,149 shares of the luxury accessories retailer’s stock after selling 4,681 shares during the period. Tapestry accounts for 1.2% of Basepoint Wealth LLC’s holdings, making the stock its 12th biggest position. Basepoint Wealth LLC’s holdings in Tapestry were worth $2,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its position in shares of Tapestry by 92.8% in the fourth quarter. Schroder Investment Management Group now owns 9,350,221 shares of the luxury accessories retailer’s stock worth $1,194,678,000 after acquiring an additional 4,500,850 shares during the period. Norges Bank acquired a new stake in shares of Tapestry during the 4th quarter valued at about $345,349,000. Wellington Management Group LLP grew its position in shares of Tapestry by 632.3% during the 4th quarter. Wellington Management Group LLP now owns 2,366,502 shares of the luxury accessories retailer’s stock valued at $302,368,000 after acquiring an additional 2,043,353 shares during the period. State Street Corp increased its stake in shares of Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in shares of Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after purchasing an additional 1,162,442 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other news, 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 sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 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 sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at $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. Insiders own 1.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Evercore set a $175.00 price target on Tapestry in a report on Friday, May 8th. Weiss Ratings lowered Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. BTIG Research restated a “buy” rating and issued a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $164.00 target price on shares of Tapestry in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $170.06.

Tapestry Stock Down 0.0%

TPR opened at $141.43 on Monday. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. 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 company has a 50-day moving average price of $141.43 and a 200 day moving average price of $142.12. The company has a market cap of $28.57 billion, a PE ratio of 45.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.43.

Tapestry (NYSE:TPR) last posted its quarterly earnings data 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 company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm posted $1.03 EPS. Tapestry’s revenue was up 21.2% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Sell-side analysts expect that Tapestry, Inc. will post 6.96 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced 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 (DPR) is 51.28%.

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.