HB Wealth Management LLC Raises Stock Holdings in Tapestry, Inc. $TPR

HB Wealth Management LLC grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 59.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,807 shares of the luxury accessories retailer’s stock after buying an additional 4,425 shares during the quarter. HB Wealth Management LLC’s holdings in Tapestry were worth $1,337,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Tapestry by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after acquiring an additional 606,686 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tapestry by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after acquiring an additional 158,782 shares in the last quarter. SRS Investment Management LLC increased its stake in Tapestry by 12.4% during the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after purchasing an additional 589,000 shares in the last quarter. Schroder Investment Management Group raised its holdings 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 acquiring an additional 3,775,593 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 939,227 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction 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 sale, the chief executive officer owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. This trade represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 148,149 shares in the company, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 115,485 shares of company stock valued at $12,034,058 over the last 90 days. Insiders own 1.32% of the company’s stock.

Tapestry Stock Up 0.7%

Shares of TPR opened at $134.43 on Monday. 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 firm has a market capitalization of $27.51 billion, a P/E ratio of 120.03, a P/E/G ratio of 2.76 and a beta of 1.63. The firm has a fifty day moving average price of $116.74 and a 200-day moving average price of $110.01. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $136.04.

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 the consensus estimate of $1.25 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were issued a $0.40 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Tapestry’s payout ratio is currently 142.86%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TPR shares. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Raymond James Financial lifted their target price on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley increased their price objective on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Barclays restated an “overweight” rating and issued a $154.00 price target on shares of Tapestry in a research report on Tuesday, January 6th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.21.

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.