Gotham Asset Management LLC Reduces Holdings in Tapestry, Inc. $TPR

Gotham Asset Management LLC reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 3.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 576,727 shares of the luxury accessories retailer’s stock after selling 23,490 shares during the quarter. Tapestry comprises about 0.3% of Gotham Asset Management LLC’s portfolio, making the stock its 22nd biggest position. Gotham Asset Management LLC’s holdings in Tapestry were worth $73,688,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC grew its holdings in shares of Tapestry by 2.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock worth $477,000 after purchasing an additional 73 shares during the last quarter. Northwest Wealth Management LLC grew its stake in Tapestry by 3.4% during the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock worth $315,000 after buying an additional 82 shares during the last quarter. Fulton Bank N.A. grew its stake in Tapestry by 2.8% during the 4th quarter. Fulton Bank N.A. now owns 3,166 shares of the luxury accessories retailer’s stock worth $405,000 after buying an additional 87 shares during the last quarter. CVA Family Office LLC increased its position in Tapestry by 23.4% during the fourth quarter. CVA Family Office LLC now owns 469 shares of the luxury accessories retailer’s stock worth $60,000 after buying an additional 89 shares during the period. Finally, Clark Financial Services Group Inc. BD lifted its stake in Tapestry by 1.8% in the fourth quarter. Clark Financial Services Group Inc. BD now owns 5,701 shares of the luxury accessories retailer’s stock valued at $733,000 after buying an additional 103 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tapestry

In related news, CEO Joanne C. Crevoiserat sold 27,776 shares of the firm’s stock in a transaction dated 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 owned 652,434 shares in the company, valued at $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 directly owned 123,258 shares in the company, valued at approximately $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 currently owned by insiders.

Tapestry Price Performance

Shares of TPR opened at $145.92 on Thursday. Tapestry, Inc. has a twelve month low of $83.00 and a twelve month high of $161.97. The stock’s 50 day moving average is $142.64 and its two-hundred day moving average is $138.65. The firm has a market capitalization of $29.48 billion, a PE ratio of 46.77, a P/E/G ratio of 1.51 and a beta of 1.42. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48.

Tapestry (NYSE:TPR) last issued its earnings results 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. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Research analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is 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 51.28%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TPR shares. Sanford C. Bernstein restated an “outperform” rating and set a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $165.00 price target on shares of Tapestry in a research report on Thursday, April 23rd. UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and increased their price target for the stock from $142.00 to $187.00 in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $180.00 target price on shares of Tapestry in a report on Wednesday, June 10th. Two investment 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’s stock. According to data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $165.12.

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.