Cresset Asset Management LLC Buys 4,518 Shares of Tapestry, Inc. $TPR

Cresset Asset Management LLC increased its position in Tapestry, Inc. (NYSE:TPR) by 58.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,214 shares of the luxury accessories retailer’s stock after buying an additional 4,518 shares during the period. Cresset Asset Management LLC’s holdings in Tapestry were worth $1,383,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in Tapestry in the third quarter valued at approximately $26,000. Vestor Capital LLC acquired a new position in shares of Tapestry during the second quarter worth approximately $27,000. Johnson Financial Group Inc. bought a new position in shares of Tapestry in the 2nd quarter worth $39,000. Elevation Point Wealth Partners LLC acquired a new stake in Tapestry in the 2nd quarter valued at $45,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Tapestry in the 2nd quarter valued at $52,000. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on TPR shares. Guggenheim started coverage on shares of Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price on the stock. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Sunday. UBS Group reissued a “neutral” rating and set a $141.00 price objective on shares of Tapestry in a report on Monday, February 9th. Finally, BTIG Research raised their target price on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Tapestry Stock Performance

TPR stock opened at $145.33 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The firm has a market cap of $29.42 billion, a PE ratio of 60.05, a P/E/G ratio of 1.73 and a beta of 1.55. The business has a 50 day moving average of $140.68 and a 200-day moving average of $121.99. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio is 66.12%.

Insider Buying and Selling at Tapestry

In related news, Director Thomas Greco sold 14,245 shares of Tapestry stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the completion of the sale, the director owned 21,302 shares of the company’s stock, valued at approximately $3,289,880.88. This trade represents a 40.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Kahn sold 39,815 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the transaction, the chief executive officer owned 120,578 shares of the company’s stock, valued at $18,248,274.52. This represents a 24.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 164,956 shares of company stock valued at $25,297,262 in the last quarter. Insiders own 1.32% of the company’s stock.

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.