Tapestry, Inc. $TPR Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Tapestry, Inc. (NYSE:TPR) by 8.2% in the first quarter, Holdings Channel reports. The fund owned 107,050 shares of the luxury accessories retailer’s stock after selling 9,508 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tapestry were worth $15,106,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Woodline Partners LP lifted its position in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Tapestry during the 1st quarter valued at $493,000. Sivia Capital Partners LLC acquired a new stake in Tapestry during the 2nd quarter valued at $602,000. Arrowstreet Capital Limited Partnership purchased a new stake in Tapestry during the 2nd quarter worth $6,307,000. Finally, Brown Advisory Inc. increased its stake in Tapestry by 13.8% during the 2nd quarter. Brown Advisory Inc. now owns 3,630 shares of the luxury accessories retailer’s stock worth $319,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Tapestry stock opened at $152.57 on Monday. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.84 and a quick ratio of 1.27. Tapestry, Inc. has a 12 month low of $92.62 and a 12 month high of $161.97. The company has a fifty day moving average price of $143.99 and a two-hundred day moving average price of $143.21. The company has a market cap of $30.83 billion, a PE ratio of 48.90, a P/E/G ratio of 1.38 and a beta of 1.43.

Tapestry (NYSE:TPR) last issued its earnings results 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. 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 period in the prior year, the company earned $1.03 earnings per share. The firm’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. Research analysts expect that Tapestry, Inc. will post 6.97 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s dividend payout ratio is currently 51.28%.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 27,776 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 652,434 shares of the company’s stock, valued at $86,701,954.26. The trade was a 4.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the company’s stock in a transaction dated 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 position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup upped their price objective on shares of Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Tapestry from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Weiss Ratings downgraded Tapestry from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Raymond James Financial restated an “outperform” rating and set a $165.00 price objective on shares of Tapestry in a research note on Thursday, April 23rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $180.00 price target on shares of Tapestry in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.50.

Tapestry 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.