Tapestry, Inc. $TPR Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in Tapestry, Inc. (NYSE:TPR) by 305.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,332 shares of the luxury accessories retailer’s stock after purchasing an additional 28,133 shares during the quarter. SG Americas Securities LLC’s holdings in Tapestry were worth $4,227,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Schroder Investment Management Group grew its stake in shares of Tapestry by 1,661.6% during the 2nd 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 during the period. Norges Bank purchased a new stake in Tapestry during the second quarter valued at about $227,248,000. AQR Capital Management LLC grew its position 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 acquiring an additional 939,227 shares during the period. Marshall Wace LLP increased its stake in Tapestry by 2,547.4% during the second quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock worth $83,917,000 after acquiring an additional 919,569 shares during the last quarter. Finally, Aviva PLC acquired a new stake in Tapestry during the second quarter worth about $67,612,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Robert W. Baird set a $140.00 price objective on Tapestry in a research note on Wednesday, December 17th. Jefferies Financial Group raised their price target on shares of Tapestry from $135.00 to $142.00 and gave the company a “buy” rating in a report on Friday, December 12th. Barclays reiterated an “overweight” rating and set a $154.00 price objective on shares of Tapestry in a research note on Tuesday, January 6th. Raymond James Financial raised 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. Finally, Morgan Stanley lifted their target price on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $126.21.

Tapestry Trading Up 0.7%

TPR opened at $134.43 on Monday. The firm’s 50 day moving average is $116.74 and its 200-day moving average is $110.01. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $136.04. The company has a quick ratio of 0.93, a current ratio of 1.52 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.

Tapestry (NYSE:TPR) last released 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. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $0.84 EPS. The business’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were given 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 of this dividend was Friday, December 5th. Tapestry’s payout ratio is presently 142.86%.

Tapestry announced that its board has authorized a stock 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 reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Scott A. Roe sold 18,794 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $104.85, for a total value of $1,970,550.90. Following the completion of the transaction, the chief financial officer owned 148,149 shares of the company’s stock, valued at approximately $15,533,422.65. This represents a 11.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Todd Kahn sold 29,000 shares of Tapestry stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total value of $2,982,070.00. Following the sale, the chief executive officer owned 86,736 shares in the company, valued at $8,919,062.88. This represents a 25.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 115,485 shares of company stock valued at $12,034,058. Insiders own 1.32% of the company’s stock.

Tapestry Company 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.