Principal Financial Group Inc. Buys 16,834 Shares of Tapestry, Inc. $TPR

Principal Financial Group Inc. lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 6.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 293,418 shares of the luxury accessories retailer’s stock after buying an additional 16,834 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Tapestry worth $41,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Acumen Wealth Advisors LLC acquired a new stake in Tapestry during the fourth quarter worth approximately $28,000. Triumph Capital Management bought a new stake in shares of Tapestry during the third quarter worth approximately $29,000. Steph & Co. grew its position in shares of Tapestry by 128.7% in the fourth quarter. Steph & Co. now owns 231 shares of the luxury accessories retailer’s stock valued at $30,000 after purchasing an additional 130 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Tapestry during the fourth quarter worth approximately $31,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Tapestry during the fourth quarter worth approximately $32,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the subject of several recent research reports. Citigroup boosted their price target on Tapestry from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Morgan Stanley reissued an “overweight” rating and set a $164.00 target price on shares of Tapestry in a report on Monday, July 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $180.00 target price on shares of Tapestry in a research report on Tuesday, June 2nd. Finally, Robert W. Baird upped their price target on shares of Tapestry from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $170.06.

Tapestry Trading Down 1.9%

Shares of TPR opened at $141.43 on Friday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.27 and a current ratio of 1.84. The firm has a market cap of $28.57 billion, a price-to-earnings ratio of 45.33, a PEG ratio of 1.30 and a beta of 1.43. The business’s fifty day moving average is $141.43 and its 200-day moving average is $142.04. Tapestry, Inc. has a 52-week low of $92.62 and a 52-week high of $161.97.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, May 7th. The luxury accessories retailer reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.79 billion. Tapestry had a return on equity of 229.70% and a net margin of 8.44%.Tapestry’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. Tapestry has set its FY 2026 guidance at 6.950-6.950 EPS. Equities analysts anticipate that Tapestry, Inc. will post 6.96 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors 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 yield of 1.1%. Tapestry’s dividend payout ratio is presently 51.28%.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 27,776 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Kahn sold 19,557 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 123,258 shares of the company’s stock, valued at approximately $17,258,585.16. The trade was a 13.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

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.