Basepoint Wealth LLC Decreases Stake in Tapestry, Inc. $TPR

Basepoint Wealth LLC lowered its position in Tapestry, Inc. (NYSE:TPR) by 29.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,830 shares of the luxury accessories retailer’s stock after selling 8,206 shares during the quarter. Tapestry comprises approximately 1.5% of Basepoint Wealth LLC’s portfolio, making the stock its 8th largest holding. Basepoint Wealth LLC’s holdings in Tapestry were worth $2,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cloud Capital Management LLC bought a new position in Tapestry in the 3rd quarter worth about $26,000. Triumph Capital Management bought a new stake in shares of Tapestry during the 3rd quarter valued at about $29,000. Steph & Co. grew its holdings in shares of Tapestry by 128.7% during the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock worth $30,000 after purchasing an additional 130 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Tapestry in the 4th quarter worth $31,000. Finally, Cornerstone Planning Group LLC grew its position in Tapestry by 2,720.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 282 shares of the luxury accessories retailer’s stock worth $36,000 after acquiring an additional 272 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of TPR stock opened at $145.39 on Friday. The firm has a market cap of $29.37 billion, a P/E ratio of 46.60, a P/E/G 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, Inc. has a fifty-two week low of $76.92 and a fifty-two week high of $161.97. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, May 7th. The luxury accessories retailer reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.36. Tapestry had a net margin of 8.44% and a return on equity of 229.70%. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm earned $1.03 EPS. The company’s quarterly 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. On average, equities research analysts anticipate that Tapestry, Inc. will post 6.95 earnings per share for the current year.

Tapestry Dividend Announcement

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

Analysts Set New Price Targets

TPR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Tapestry from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and set a $180.00 price target on shares of Tapestry in a research note on Friday, May 8th. Zacks Research upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. UBS Group raised shares of Tapestry from a “neutral” rating to a “buy” rating and upped their price objective for the company from $142.00 to $187.00 in a research note on Friday, May 8th. Finally, Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Two research 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’s stock. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $160.67.

Insider Activity at Tapestry

In other Tapestry news, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction on 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 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 trade represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry 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 approximately $86,701,954.26. This trade represents a 4.08% decrease in their ownership of the stock. 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.

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.