Empowered Funds LLC Lowers Stock Position in Tapestry, Inc. $TPR

Empowered Funds LLC reduced its position in Tapestry, Inc. (NYSE:TPR) by 6.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 311,297 shares of the luxury accessories retailer’s stock after selling 22,047 shares during the period. Empowered Funds LLC’s holdings in Tapestry were worth $43,927,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. World Investment Advisors raised its stake in Tapestry by 3.6% during the 1st quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock valued at $279,000 after acquiring an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Tapestry by 4.7% in the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock worth $222,000 after purchasing an additional 71 shares in the last quarter. Smartleaf Asset Management LLC increased 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 valued at $477,000 after purchasing an additional 73 shares during the period. Northwest Wealth Management LLC increased its holdings in shares of Tapestry by 3.4% during the fourth quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock valued at $315,000 after purchasing an additional 82 shares during the period. Finally, NewEdge Wealth LLC raised its stake in shares of Tapestry by 2.7% during the first quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock valued at $450,000 after purchasing an additional 85 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 652,434 shares in the company, valued at $86,701,954.26. This represents a 4.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of a number of recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and issued 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 objective on shares of Tapestry in a report on Thursday, April 23rd. Weiss Ratings cut Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. UBS Group upped their target price on Tapestry from $187.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Finally, Citigroup increased their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $170.06.

Tapestry Price Performance

Shares of NYSE TPR opened at $147.52 on Tuesday. Tapestry, Inc. has a twelve month low of $92.62 and a twelve month high of $161.97. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 3.48. The firm has a 50-day moving average of $142.78 and a two-hundred day moving average of $142.69. The company has a market capitalization of $29.80 billion, a price-to-earnings ratio of 47.28, a PEG ratio of 1.30 and a beta of 1.43.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The business’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, analysts expect that Tapestry, Inc. will post 6.97 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was 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.