5 Most Anticipated Quarterly Earnings Releases to Watch

1. Tapestry, Inc. (NYSE:TPR)

Number of Hedge Fund Holders: 48  

Tapestry, Inc. (NYSE:TPR) markets luxury accessories and branded lifestyle products. The three key brands through which the firm operates include Coach, Kate Spade, and Stuart Weitzman. The Coach brand is steadily making gains across North America and even in China, and the Kate Spade brand is growing at a rapid pace with revenues expected to double in the coming years. The management of the company expects Kate Spade to reach $2 billion in revenue within the next few years. 

On April 19, Barclays analyst Adrienne Yih kept an Overweight rating on Tapestry, Inc. (NYSE:TPR) stock and raised the price target to $53 from $51, noting that demand was still outstripping the supply for the firm. 

At the end of the fourth quarter of 2021, 48 hedge funds in the database of Insider Monkey held stakes worth $827 million in Tapestry, Inc. (NYSE:TPR), compared to 41 in the preceding quarter worth $887 million. 

In its Q3 2021 investor letter, Ariel Investments highlighted a few stocks and Tapestry, Inc. (NYSE:TPR) was one of them. Here is what the fund said:

“Luxury accessory and lifestyle brand, Tapestry, Inc. (NYSE:TPR) was the top contributor to performance over the trailing one-year period. Revenue improvement across all three brands with a notable increase in consumer demand, particularly for the Coach business, triple-digit growth in e-commerce, and better than expected pricing, drove margins higher. Looking ahead, we expect Tapestry’s supply chain and SKU rationalization initiatives to continue to deliver margin expansion. Together, with early signs of improved receptivity for the Kate Spade brand, we believe a significant value creation opportunity lies ahead.”

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