Fisher Asset Management LLC Has $43.90 Million Stock Position in Tapestry, Inc. $TPR

Fisher Asset Management LLC boosted its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 5,027.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 499,988 shares of the luxury accessories retailer’s stock after acquiring an additional 490,237 shares during the quarter. Fisher Asset Management LLC’s holdings in Tapestry were worth $43,904,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TPR. Vanguard Group Inc. lifted its position in shares of Tapestry by 2.4% in the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after purchasing an additional 606,686 shares in the last quarter. Geode Capital Management LLC increased its stake in Tapestry by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after buying an additional 158,782 shares during the period. Schroder Investment Management Group lifted its position in Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after buying an additional 3,775,593 shares in the last quarter. AQR Capital Management LLC lifted its position in Tapestry by 47.4% in the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after buying an additional 838,057 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Tapestry during the 2nd quarter valued at $227,248,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the completion of the transaction, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. The trade was a 31.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $104.85, for a total value of $1,970,550.90. Following the completion of the sale, the chief financial officer directly owned 148,149 shares in the company, valued at $15,533,422.65. This trade represents a 11.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 126,222 shares of company stock valued at $13,168,985 in the last quarter. Insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TPR shares. Sanford C. Bernstein increased their price objective on Tapestry from $112.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Morgan Stanley upped their target price on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. The Goldman Sachs Group lifted their price target on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Finally, BTIG Research started coverage on shares of Tapestry in a research report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price objective on the stock. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $119.26.

Tapestry Stock Down 2.6%

Shares of Tapestry stock opened at $109.18 on Wednesday. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $118.56. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average price of $110.17 and a two-hundred day moving average price of $101.23. The stock has a market capitalization of $22.34 billion, a P/E ratio of 173.30, a PEG ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. Tapestry’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, December 5th. Tapestry’s dividend payout ratio is 142.86%.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.