Massachusetts Financial Services Co. MA Boosts Stock Position in Tapestry, Inc. $TPR

Massachusetts Financial Services Co. MA grew its position in Tapestry, Inc. (NYSE:TPR) by 250.6% during the third quarter, Holdings Channel reports. The firm owned 2,449,170 shares of the luxury accessories retailer’s stock after acquiring an additional 1,750,566 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Tapestry were worth $277,295,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Schroder Investment Management Group increased 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 buying an additional 3,775,593 shares during the period. Norges Bank acquired a new stake in Tapestry during the 2nd quarter valued at approximately $227,248,000. AQR Capital Management LLC boosted its holdings in shares of Tapestry by 36.0% in the 2nd 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 last quarter. Marshall Wace LLP increased its stake in shares of Tapestry by 2,547.4% in 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 period. Finally, Aviva PLC purchased a new position in shares of Tapestry during the second quarter worth $67,612,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Down 1.6%

Shares of TPR opened at $130.89 on Tuesday. The firm has a market cap of $26.79 billion, a P/E ratio of 116.86, a PEG ratio of 2.69 and a beta of 1.63. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04. The stock’s 50 day moving average is $120.05 and its two-hundred day moving average is $111.92. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $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 predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its Board of Directors has initiated a share buyback program 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 purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were given 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 dividend payout ratio (DPR) is 142.86%.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were 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 owned 667,233 shares of the company’s stock, valued at $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $1,970,550.90. Following the completion of the transaction, the chief financial officer directly owned 148,149 shares in the company, valued at $15,533,422.65. This represents a 11.26% 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 owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their price target on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. UBS Group boosted their price objective on Tapestry from $105.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. BTIG Research started coverage on Tapestry in a research note on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $150.00 price target on shares of Tapestry in a research report on Tuesday, January 6th. Finally, Barclays upped their price objective on Tapestry from $154.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.05.

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.