Tapestry, Inc. $TPR Shares Acquired by Brighton Jones LLC

Brighton Jones LLC increased its stake in Tapestry, Inc. (NYSE:TPR) by 47.8% in the third quarter, Holdings Channel reports. The institutional investor owned 20,351 shares of the luxury accessories retailer’s stock after acquiring an additional 6,585 shares during the quarter. Brighton Jones LLC’s holdings in Tapestry were worth $2,304,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Tapestry by 2.4% in the 2nd 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 during the last quarter. Geode Capital Management LLC grew its stake in Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after purchasing an additional 158,782 shares in the last quarter. SRS Investment Management LLC increased its holdings in Tapestry by 12.4% in the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after buying an additional 589,000 shares during the last quarter. Schroder Investment Management Group raised its stake in Tapestry by 1,661.6% during the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after buying an additional 3,775,593 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after buying an additional 939,227 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TPR has been the subject of a number of research analyst reports. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Barclays lifted their price objective on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Raymond James Financial increased their target price on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. BTIG Research began coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target for the company. Finally, Sanford C. Bernstein boosted their price objective on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

Tapestry Stock Performance

TPR opened at $128.97 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The business’s 50 day moving average is $112.36 and its 200-day moving average is $105.32. The stock has a market cap of $26.39 billion, a PE ratio of 115.15, a price-to-earnings-growth ratio of 2.58 and a beta of 1.65. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $129.60.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm 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%.The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, December 5th. Tapestry’s payout ratio is currently 142.86%.

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

Insiders Place Their Bets

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

Tapestry Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.