Basepoint Wealth LLC Reduces Position in Tapestry, Inc. $TPR

Basepoint Wealth LLC decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 23.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,149 shares of the luxury accessories retailer’s stock after selling 4,681 shares during the period. Tapestry makes up approximately 1.2% of Basepoint Wealth LLC’s investment portfolio, making the stock its 12th largest position. Basepoint Wealth LLC’s holdings in Tapestry were worth $2,138,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Meeder Asset Management Inc. grew its position in shares of Tapestry by 20.5% in the first quarter. Meeder Asset Management Inc. now owns 75,106 shares of the luxury accessories retailer’s stock valued at $10,598,000 after purchasing an additional 12,799 shares in the last quarter. WCM Investment Management LLC lifted its position in Tapestry by 20.4% during the first quarter. WCM Investment Management LLC now owns 1,130,317 shares of the luxury accessories retailer’s stock worth $154,763,000 after buying an additional 191,174 shares in the last quarter. SEB Asset Management AB purchased a new position in Tapestry during the first quarter worth approximately $59,525,000. Swiss National Bank boosted its stake in Tapestry by 4.8% during the first quarter. Swiss National Bank now owns 600,579 shares of the luxury accessories retailer’s stock worth $84,748,000 after buying an additional 27,700 shares during the last quarter. Finally, Precision Wealth Strategies LLC acquired a new position in Tapestry during the first quarter worth $1,140,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.0%

Shares of Tapestry stock opened at $141.43 on Monday. The stock has a 50 day moving average of $141.43 and a 200 day moving average of $142.12. 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 firm has a market capitalization of $28.57 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.30 and a beta of 1.43. Tapestry, Inc. has a fifty-two week low of $92.62 and a fifty-two week high of $161.97.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.79 billion. During the same quarter in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. As a group, research analysts predict that Tapestry, Inc. will post 6.96 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, June 5th. Tapestry’s payout ratio is 51.28%.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $132.89, for a total transaction 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 trade represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of Tapestry stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $140.02, for a total transaction of $2,738,371.14. Following the sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. This represents a 13.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of recent research reports. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Barclays boosted their price target on shares of Tapestry from $179.00 to $182.00 and gave the company an “overweight” rating in a research report on Thursday. Sanford C. Bernstein reissued an “outperform” rating and issued a $180.00 price objective on shares of Tapestry in a report on Tuesday, June 2nd. BTIG Research restated a “buy” rating and set a $180.00 price objective on shares of Tapestry in a research report on Wednesday, June 10th. Finally, Citigroup lifted their target price 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. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $170.06.

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.