Legal & General Group Plc Acquires 20,248 Shares of Tapestry, Inc. $TPR

Legal & General Group Plc increased its holdings in Tapestry, Inc. (NYSE:TPR) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 743,529 shares of the luxury accessories retailer’s stock after purchasing an additional 20,248 shares during the period. Legal & General Group Plc’s holdings in Tapestry were worth $95,001,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Fisher Asset Management LLC lifted its stake in shares of Tapestry by 21.7% in the 3rd quarter. Fisher Asset Management LLC now owns 608,266 shares of the luxury accessories retailer’s stock worth $68,868,000 after purchasing an additional 108,278 shares during the period. DNB Asset Management AS lifted its stake in shares of Tapestry by 1,331.4% in the 3rd quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock worth $4,470,000 after purchasing an additional 36,720 shares during the period. WCM Investment Management LLC lifted its stake in shares of Tapestry by 45.5% in the 3rd quarter. WCM Investment Management LLC now owns 815,037 shares of the luxury accessories retailer’s stock worth $90,844,000 after purchasing an additional 254,936 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Tapestry by 23.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 217,408 shares of the luxury accessories retailer’s stock worth $24,615,000 after purchasing an additional 41,556 shares during the period. Finally, Advisory Research Inc. lifted its stake in shares of Tapestry by 30.1% in the 3rd quarter. Advisory Research Inc. now owns 228,107 shares of the luxury accessories retailer’s stock worth $25,826,000 after purchasing an additional 52,747 shares during the period. 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 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. This trade 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. Company insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TPR shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Barclays set a $179.00 price objective on Tapestry and gave the company an “overweight” rating in a research report on Friday, February 6th. BNP Paribas Exane started coverage on Tapestry in a research report on Friday, February 13th. They set an “outperform” rating and a $176.00 price objective on the stock. The Goldman Sachs Group set a $166.00 price objective on Tapestry in a research report on Friday, February 6th. Finally, Zacks Research raised Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.67.

Tapestry Stock Up 4.7%

TPR stock opened at $145.39 on Friday. Tapestry, Inc. has a twelve month low of $76.92 and a twelve month high of $161.97. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 3.48. The stock has a market cap of $29.37 billion, a P/E ratio of 46.60, a PEG ratio of 1.41 and a beta of 1.45. The business’s 50-day moving average price is $142.20 and its 200-day moving average price is $134.83.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share 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 firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s quarterly revenue was up 21.2% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 6.95 EPS for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is presently 51.28%.

Tapestry Company 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.