Tapestry, Inc.

(New York Stock Exchange)
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Bullish +65

Jefferies Financial Group Inc. Has $10.10 Million Stake in Tapestry, Inc. $TPR - MarketBeat

AI-generated analysis

πŸ“‰ Jefferies Financial Group cut its Tapestry stake by 37.2%, selling 46,786 shares to hold a remaining position of 79,009 shares valued at $10.1 million.

πŸ“ˆ Institutional investors Fisher Asset Management, DNB Asset Management, WCM Investment Management, Advisory Research Inc., and Russell Investments Group all increased their Tapestry holdings in the third quarter.

πŸ’° Tapestry reported quarterly EPS of $1.66 and revenue of $1.92 billion, both exceeding analyst estimates with revenue up 21.2% year over year.

πŸ“… The company declared a quarterly dividend of $0.40 per share, payable on June 22nd to shareholders of record on June 5th.

🎯 Analyst consensus remains Moderate Buy with an average target price of $160.67, supported by recent upgrades from Goldman Sachs, BTIG Research, and Citigroup.

πŸ‘” CEO Joanne C. Crevoiserat sold 27,776 shares for $3.69 million under a pre-arranged Rule 10b5-1 trading plan on May 13th.

Bullish Signals
  • Tapestry delivered earnings per share of $1.66, significantly beating the consensus estimate of $1.30 by $0.36.
  • Revenue reached $1.92 billion, surpassing analyst expectations of $1.79 billion and growing 21.2% year over year.
  • The company maintains a strong balance sheet with a quick ratio of 1.27 and a current ratio of 1.84.
  • Analyst sentiment is broadly positive, evidenced by recent target price increases from Goldman Sachs ($166), Citigroup ($170), and BTIG Research ($180).
  • The company has established a consistent dividend policy with a quarterly payout of $0.40 per share.
  • Institutional ownership remains robust at 90.77%, indicating continued confidence from major asset managers.
Risk Factors
  • CEO Joanne C. Crevoiserat sold 27,776 shares worth approximately $3.69 million, representing a 4.08% decrease in her direct ownership.
  • The stock is trading below its 50-day moving average of $142.33 and its 200-day moving average of $133.80 as of the latest data.
  • Weiss Ratings recently lowered Tapestry's rating from 'hold (c+)' to 'hold (c)', indicating a slight downgrade in credit or outlook assessment.
Full Analysis
Jefferies Financial Group reduced its stake in Tapestry, Inc. (NYSE: TPR) by 37.2% in the fourth quarter, selling 46,786 shares and retaining a position of 79,009 shares valued at approximately $10.1 million. Despite this reduction, other institutional investors have significantly increased their holdings; Fisher Asset Management lifted its position by 21.7%, while DNB Asset Management, WCM Investment Management, Advisory Research Inc., and Russell Investments Group all saw substantial increases in their Tapestry stakes during the third quarter. Tapestry reported stronger-than-expected quarterly results with earnings per share (EPS) of $1.66 against a consensus estimate of $1.30, and revenue of $1.92 billion compared to an expected $1.79 billion. Revenue grew 21.2% year over year, driven by the company's portfolio of luxury brands including Coach, Kate Spade New York, and Stuart Weitzman. The company also declared a quarterly dividend of $0.40 per share, payable on June 22nd to shareholders of record on June 5th. Wall Street analysts remain broadly positive regarding Tapestry's prospects, with a consensus rating of Moderate Buy and an average target price of $160.67. Recent analyst actions include Goldman Sachs setting a $166.00 target, BTIG Research restating a buy rating with a $180.00 target, and Citigroup boosting its target to $170.00. However, CEO Joanne C. Crevoiserat sold 27,776 shares for approximately $3.69 million in a pre-arranged Rule 10b5-1 trading plan, reducing her direct ownership by 4.08%.