OMERS ADMINISTRATION Corp Boosts Holdings in Tapestry, Inc. $TPR

OMERS ADMINISTRATION Corp raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 31.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 22,731 shares of the luxury accessories retailer’s stock after acquiring an additional 5,429 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Tapestry were worth $3,208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TPR. World Investment Advisors lifted its holdings in shares of Tapestry by 3.6% in the first quarter. World Investment Advisors now owns 1,979 shares of the luxury accessories retailer’s stock worth $279,000 after buying an additional 69 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in Tapestry by 4.7% during the first quarter. Horizon Bancorp Inc. IN now owns 1,575 shares of the luxury accessories retailer’s stock valued at $222,000 after acquiring an additional 71 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Tapestry by 2.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,682 shares of the luxury accessories retailer’s stock valued at $477,000 after acquiring an additional 73 shares during the last quarter. Northwest Wealth Management LLC increased its holdings in Tapestry by 3.4% in the 4th quarter. Northwest Wealth Management LLC now owns 2,462 shares of the luxury accessories retailer’s stock valued at $315,000 after acquiring an additional 82 shares during the last quarter. Finally, NewEdge Wealth LLC lifted its stake in Tapestry by 2.7% in the 1st quarter. NewEdge Wealth LLC now owns 3,186 shares of the luxury accessories retailer’s stock worth $450,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TPR. Evercore set a $175.00 price objective on shares of Tapestry in a report on Friday, May 8th. Citigroup lifted their price objective on Tapestry from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird raised their target price on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $165.00 price target on shares of Tapestry in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.06.

Tapestry Price Performance

TPR stock opened at $147.52 on Tuesday. The stock has a market cap of $29.80 billion, a PE ratio of 47.28, a P/E/G ratio of 1.30 and a beta of 1.43. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. The company has a 50-day moving average price of $142.78 and a 200 day moving average price of $142.69. 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 (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, topping analysts’ consensus estimates of $1.30 by $0.36. The company 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 firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities research analysts anticipate that Tapestry, Inc. will post 6.97 earnings per share for the current year.

Tapestry Dividend Announcement

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

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of Tapestry stock in a transaction that occurred on 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 sale, the chief executive officer owned 652,434 shares of the company’s stock, valued at approximately $86,701,954.26. The trade was a 4.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 directly owned 123,258 shares in the company, valued at approximately $17,258,585.16. This trade represents a 13.69% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

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.