35,334 Shares in Tapestry, Inc. $TPR Acquired by Park National Corp OH

Park National Corp OH purchased a new position in Tapestry, Inc. (NYSE:TPR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 35,334 shares of the luxury accessories retailer’s stock, valued at approximately $4,986,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Tapestry by 155.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 154,652 shares of the luxury accessories retailer’s stock valued at $21,823,000 after purchasing an additional 94,106 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Tapestry by 13.1% in the fourth quarter. Hsbc Holdings PLC now owns 386,483 shares of the luxury accessories retailer’s stock worth $49,403,000 after purchasing an additional 44,755 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Tapestry by 78.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 17,760 shares of the luxury accessories retailer’s stock worth $2,269,000 after purchasing an additional 7,780 shares during the last quarter. Larry Mathis Financial Planning LLC purchased a new position in shares of Tapestry in the fourth quarter worth $218,000. Finally, Corient Private Wealth LLC increased its stake in shares of Tapestry by 12.9% in the fourth quarter. Corient Private Wealth LLC now owns 64,512 shares of the luxury accessories retailer’s stock worth $8,243,000 after buying an additional 7,375 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Weiss Ratings cut shares of Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Evercore set a $175.00 price target on shares of Tapestry in a report on Friday, May 8th. Argus set a $165.00 price objective on shares of Tapestry in a research report on Thursday, March 12th. BTIG Research reaffirmed a “buy” rating and set a $180.00 price objective on shares of Tapestry in a research note on Wednesday, June 10th. Finally, UBS Group upgraded shares of Tapestry from a “neutral” rating to a “buy” rating and increased their target price for the stock from $142.00 to $187.00 in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $165.12.

Insider Activity at Tapestry

In other news, CEO Todd Kahn sold 19,557 shares of the stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was 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 of the company’s stock, valued at $86,701,954.26. This represents a 4.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.32% of the company’s stock.

Tapestry Stock Up 0.4%

Shares of NYSE TPR opened at $144.07 on Friday. 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, Inc. has a 12 month low of $83.26 and a 12 month high of $161.97. The firm has a market capitalization of $29.11 billion, a PE ratio of 46.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.42. The firm has a fifty day simple moving average of $142.60 and a two-hundred day simple moving average of $138.94.

Tapestry (NYSE:TPR) last announced its earnings results 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. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts expect that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed 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 is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is 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.