Arrowstreet Capital Limited Partnership Reduces Stock Holdings in Tapestry, Inc. $TPR

Arrowstreet Capital Limited Partnership reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 29.3% during the first quarter, Holdings Channel reports. The firm owned 1,251,932 shares of the luxury accessories retailer’s stock after selling 518,763 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Tapestry were worth $176,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Acumen Wealth Advisors LLC purchased a new position in shares of Tapestry during the fourth quarter valued at about $28,000. Steph & Co. raised its stake in Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after buying an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Tapestry in the fourth quarter worth about $31,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Tapestry in the fourth quarter worth about $32,000. Finally, Triumph Capital Management bought a new stake in Tapestry during the 3rd quarter valued at approximately $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Performance

TPR opened at $142.82 on Friday. The company has a 50 day simple moving average of $142.46 and a two-hundred day simple moving average of $142.49. 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 firm has a market cap of $28.86 billion, a P/E ratio of 45.78, a PEG ratio of 1.27 and a beta of 1.43. Tapestry, Inc. has a 1-year low of $92.62 and a 1-year high of $161.97.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating the consensus estimate of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm earned $1.03 EPS. The company’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. Equities analysts forecast that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend 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 (DPR) is currently 51.28%.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at 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 stock in a transaction dated 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. This represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TPR has been the subject of several research reports. Citigroup increased their price target 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. Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. boosted their price target on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $180.00 price target on shares of Tapestry in a report on Tuesday, June 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $164.00 price objective on shares of Tapestry in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $170.06.

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.