Tapestry, Inc. $TPR Position Trimmed by American Century Companies Inc.

American Century Companies Inc. trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 12.8% during the second quarter, Holdings Channel reports. The firm owned 190,537 shares of the luxury accessories retailer’s stock after selling 27,863 shares during the quarter. American Century Companies Inc.’s holdings in Tapestry were worth $16,731,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers raised its stake in Tapestry by 6.9% during the second quarter. Rhumbline Advisers now owns 436,300 shares of the luxury accessories retailer’s stock worth $38,311,000 after acquiring an additional 28,185 shares during the period. CenterBook Partners LP grew its holdings in shares of Tapestry by 184.6% during the second quarter. CenterBook Partners LP now owns 29,368 shares of the luxury accessories retailer’s stock valued at $2,579,000 after purchasing an additional 19,050 shares during the last quarter. AlphaCore Capital LLC raised its position in shares of Tapestry by 4.7% during the 2nd quarter. AlphaCore Capital LLC now owns 6,557 shares of the luxury accessories retailer’s stock worth $576,000 after purchasing an additional 297 shares during the period. Mufg Securities Americas Inc. raised its position in shares of Tapestry by 25.6% during the 2nd quarter. Mufg Securities Americas Inc. now owns 4,603 shares of the luxury accessories retailer’s stock worth $404,000 after purchasing an additional 939 shares during the period. Finally, Journey Strategic Wealth LLC bought a new stake in shares of Tapestry in the 2nd quarter worth approximately $213,000. 90.77% of the stock is currently owned by institutional investors.

Insider Transactions at Tapestry

In other Tapestry news, insider David E. Howard sold 25,029 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the transaction, the insider directly owned 55,354 shares in the company, valued at $5,673,785. This trade represents a 31.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the sale, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 126,222 shares of company stock worth $13,168,985 in the last three months. Insiders own 1.32% of the company’s stock.

Tapestry Trading Down 2.6%

Tapestry stock opened at $109.18 on Wednesday. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 173.30, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $118.56. The firm’s 50 day moving average price is $110.17 and its two-hundred day moving average price is $101.23. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry declared that its board has approved a share repurchase program on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Tapestry Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TPR shares. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Cowen reissued a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. The Goldman Sachs Group upped their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 10th. Finally, Raymond James Financial boosted their target price on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Tapestry Profile

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.