Tapestry (TPR)

• Market cap: $17.1B
• 1 day: 0.64%
• 5 days: -2.09%
• 1 month: 8.53%
• 3 months: 48.58%
• 6 months: 99.21%
• Year to date: 11.88%
• 1 year: 81.89%
• 5 years: 158.65%
• 10 years: 88.48%
• Sector: Consumer Discretionary
• Industry: Leather & Leather Products

About: Coach, Kate Spade, and Stuart Weitzman are Tapestry's fashion and accessory brands. The firm's products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (64% of fiscal 2024 sales), Europe, Asia (29% of fiscal 2024 sales), and elsewhere. Coach (76% of fiscal 2024 sales) is best known for affordable luxury leather products. Kate Spade (20% of fiscal 2023 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 69% of Tapestry's sales in fiscal 2024. Stuart Weitzman (4% of sales) generates virtually all its revenue from women's footwear.

Employees: 20,800

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

122% more first-time investments, than exits

New positions opened: 102 | Existing positions closed: 46

50% more funds holding in top 10

Funds holding in top 10: 6 [Q2] → 9 (+3) [Q3]

8% more funds holding

Funds holding: 608 [Q2] → 655 (+47) [Q3]

7% more capital invested

Capital invested by funds: $9.19B [Q2] → $9.8B (+$614M) [Q3]

4% more repeat investments, than reductions

Existing positions increased: 233 | Existing positions reduced: 223

0% less call options, than puts

Call options by funds: $305M | Put options by funds: $306M

2.87% less ownership

Funds ownership: 93.52% [Q2] → 90.65% (-2.87%) [Q3]

Research analyst outlook

13 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $57 22% downside
• Avg. target: $73 1% downside
• High target: $90 23% upside

13 analyst ratings

• positive: 10 77%
• neutral: 3 23%
• negative: 0 0%

Wells Fargo Ike Boruchow 64% 1-year accuracy 30 / 47 met price target	23% upside $90	Overweight Maintained	3 Feb 2025
Telsey Advisory Group Dana Telsey 65% 1-year accuracy 123 / 190 met price target	13% upside $83	Outperform Maintained	3 Feb 2025
Jefferies Ashley Helgans 50% 1-year accuracy 5 / 10 met price target	13% upside $83	Buy Maintained	28 Jan 2025
Evercore ISI Group Michael Binetti 69% 1-year accuracy 33 / 48 met price target	1% upside $74	Outperform Maintained	27 Jan 2025
Morgan Stanley Alexandra Steiger 80% 1-year accuracy 16 / 20 met price target	11% downside $65	Equal-Weight Reinstated	21 Jan 2025