AQR Capital Management LLC Grows Stock Holdings in Tapestry, Inc. $TPR

AQR Capital Management LLC grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 36.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,546,969 shares of the luxury accessories retailer’s stock after purchasing an additional 939,227 shares during the period. AQR Capital Management LLC’s holdings in Tapestry were worth $311,388,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. 1858 Wealth Management LLC lifted its stake in shares of Tapestry by 2.5% during the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after buying an additional 95 shares during the period. Convergence Financial LLC boosted its holdings in shares of Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after acquiring an additional 98 shares during the last quarter. Earned Wealth Advisors LLC boosted its holdings in shares of Tapestry by 1.6% in the 2nd quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after acquiring an additional 116 shares during the last quarter. Zions Bancorporation National Association UT raised its stake in shares of Tapestry by 9.3% during the 2nd quarter. Zions Bancorporation National Association UT now owns 2,029 shares of the luxury accessories retailer’s stock valued at $178,000 after buying an additional 172 shares during the last quarter. Finally, Beacon Pointe Advisors LLC grew its stake in shares of Tapestry by 4.3% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 4,636 shares of the luxury accessories retailer’s stock worth $407,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BTIG Research assumed coverage on Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price objective on the stock. Evercore ISI increased their price objective on Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Robert W. Baird set a $130.00 price objective on shares of Tapestry in a report on Wednesday, October 29th. Finally, Guggenheim began coverage on Tapestry in a report on Tuesday. They set a “neutral” rating for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.63.

Tapestry Stock Down 0.2%

TPR stock opened at $123.22 on Friday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The company’s 50 day moving average price is $111.05 and its 200 day moving average price is $103.06. The firm has a market capitalization of $25.22 billion, a price-to-earnings ratio of 110.02, a PEG ratio of 2.54 and a beta of 1.65. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $125.18.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.Tapestry’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, December 5th. Tapestry’s dividend payout ratio is currently 142.86%.

Tapestry declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Denise Kulikowsky sold 583 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $115.17, for a total value of $67,144.11. Following the transaction, the insider owned 19,285 shares in the company, valued at $2,221,053.45. The trade was a 2.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. This represents a 31.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,485 shares of company stock worth $12,034,058 over the last ninety days. 1.32% of the stock is owned by corporate insiders.

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.