Thrivent Financial for Lutherans Has $6.35 Million Stake in Tapestry, Inc. $TPR

Thrivent Financial for Lutherans lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 13.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,295 shares of the luxury accessories retailer’s stock after selling 11,634 shares during the period. Thrivent Financial for Lutherans’ holdings in Tapestry were worth $6,348,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Tapestry during the second quarter valued at about $822,000. Clarion Wealth Managment Partners LLC bought a new stake in Tapestry in the 2nd quarter valued at about $1,317,000. B. Riley Wealth Advisors Inc. acquired a new position in Tapestry during the 2nd quarter worth approximately $265,000. State of Wyoming bought a new position in Tapestry in the second quarter worth approximately $491,000. Finally, Pitcairn Co. grew its stake in Tapestry by 328.8% in the second quarter. Pitcairn Co. now owns 28,158 shares of the luxury accessories retailer’s stock valued at $2,473,000 after acquiring an additional 21,592 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

NYSE TPR opened at $125.45 on Friday. The company has a market capitalization of $25.67 billion, a PE ratio of 112.01, a price-to-earnings-growth ratio of 2.51 and a beta of 1.65. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $127.54. The company has a 50-day simple moving average of $111.72 and a 200 day simple moving average of $104.28.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the business posted $0.84 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. 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 year.

Tapestry announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Tapestry Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Tapestry’s payout ratio is presently 142.86%.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 31,735 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the transaction, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the completion of the transaction, the insider owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TPR shares. Raymond James Financial lifted their price target on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Sanford C. Bernstein raised their price objective on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Barclays boosted their target price on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Morgan Stanley raised their price target on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. lifted their price target on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

Tapestry Company 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.