Florida Financial Advisors LLC Boosts Stake in Tapestry, Inc. $TPR

Florida Financial Advisors LLC lifted its position in Tapestry, Inc. (NYSE:TPR) by 23.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,571 shares of the luxury accessories retailer’s stock after purchasing an additional 3,585 shares during the quarter. Florida Financial Advisors LLC’s holdings in Tapestry were worth $2,621,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in Tapestry by 3.8% during the fourth quarter. State Street Corp now owns 9,578,111 shares of the luxury accessories retailer’s stock worth $1,223,795,000 after buying an additional 348,334 shares during the period. Schroder Investment Management Group boosted its holdings 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 valued at $1,194,678,000 after acquiring an additional 4,500,850 shares during the period. Geode Capital Management LLC grew its position in shares of Tapestry by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 5,912,917 shares of the luxury accessories retailer’s stock worth $753,482,000 after acquiring an additional 203,764 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Tapestry by 21.4% in the 3rd quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after acquiring an additional 760,646 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Tapestry by 8.9% in the 4th quarter. Morgan Stanley now owns 3,327,212 shares of the luxury accessories retailer’s stock valued at $425,118,000 after acquiring an additional 270,973 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Tapestry from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Sanford C. Bernstein reissued an “outperform” rating and set a $180.00 price objective on shares of Tapestry in a research report on Tuesday, June 2nd. Robert W. Baird lifted their price objective on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $165.00 target price on shares of Tapestry in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Price Performance

Tapestry stock opened at $141.06 on Tuesday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. The business has a 50 day simple moving average of $141.58 and a 200-day simple moving average of $142.21. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. The stock has a market capitalization of $28.50 billion, a PE ratio of 45.21, 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 for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. The firm 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%. Tapestry’s quarterly revenue was up 21.2% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts predict that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

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

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the 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 completion of the transaction, the chief executive officer directly owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s 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 sale, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This represents 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 company 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.