Systematic Financial Management LP Lowers Holdings in Tapestry, Inc. $TPR

Systematic Financial Management LP cut its position in Tapestry, Inc. (NYSE:TPR) by 29.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 241,147 shares of the luxury accessories retailer’s stock after selling 100,549 shares during the quarter. Systematic Financial Management LP’s holdings in Tapestry were worth $30,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TPR. State Street Corp lifted its stake in Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after purchasing an additional 1,494,193 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in 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 worth $213,592,000 after purchasing an additional 1,162,442 shares in the last quarter. Two Sigma Investments LP lifted its stake in Tapestry by 426.8% in the 3rd quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer’s stock worth $127,092,000 after purchasing an additional 909,433 shares in the last quarter. Barclays PLC lifted its stake in Tapestry by 191.9% in the 3rd quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer’s stock worth $146,891,000 after purchasing an additional 852,908 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Tapestry by 21.1% in the 3rd quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after purchasing an additional 846,553 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Evercore set a $175.00 price objective on shares of Tapestry in a report on Friday, May 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a report on Friday, February 6th. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They set an “outperform” rating and a $176.00 price objective for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $180.00 price objective on shares of Tapestry in a report on Friday, May 8th. Two investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $160.67.

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction 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 transaction, the chief executive officer owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Performance

NYSE TPR opened at $138.65 on Friday. Tapestry, Inc. has a 52-week low of $76.29 and a 52-week high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The company has a market capitalization of $28.01 billion, a P/E ratio of 44.44, a P/E/G ratio of 1.41 and a beta of 1.45. The company has a fifty day moving average of $142.33 and a 200-day moving average of $133.61.

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 analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $1.03 EPS. The firm’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. As a group, equities research analysts predict that Tapestry, Inc. will post 6.95 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Friday, June 5th. Tapestry’s dividend payout ratio (DPR) is presently 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.