Intact Investment Management Inc. Sells 16,400 Shares of Tapestry, Inc. $TPR

Intact Investment Management Inc. reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 46.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,200 shares of the luxury accessories retailer’s stock after selling 16,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Tapestry were worth $2,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Vanguard Group Inc. boosted its holdings 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 valued at $2,274,536,000 after buying an additional 606,686 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 during the last quarter. SRS Investment Management LLC boosted its stake 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 acquiring an additional 589,000 shares in the last quarter. Schroder Investment Management Group grew its holdings in Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Finally, AQR Capital Management LLC increased its position 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 worth $311,388,000 after purchasing an additional 939,227 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $126.22 on Tuesday. The firm has a market capitalization of $25.83 billion, a P/E ratio of 112.70, a PEG ratio of 2.23 and a beta of 1.63. The stock has a 50-day simple moving average of $122.80 and a two-hundred day simple moving average of $113.18. 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 fifty-two week low of $58.39 and a fifty-two week high of $136.04.

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

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Tapestry’s dividend payout ratio is 142.86%.

Tapestry announced that its board has approved a share buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TPR. Sanford C. Bernstein reissued an “outperform” rating and issued a $150.00 price objective on shares of Tapestry in a research report on Tuesday, January 6th. Guggenheim began coverage on Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. boosted their price target on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Argus raised shares of Tapestry to a “strong-buy” rating in a research report on Friday, January 16th. Finally, Barclays boosted their target price on shares of Tapestry from $154.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $129.11.

Insider Activity at Tapestry

In other Tapestry news, insider David E. Howard sold 25,029 shares of Tapestry stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the transaction, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. The trade was a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Kahn sold 10,344 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $107.00, for a total transaction of $1,106,808.00. Following the completion of the transaction, the chief executive officer owned 131,815 shares of the company’s stock, valued at approximately $14,104,205. This trade represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,485 shares of company stock valued at $12,034,058 in the last quarter. 1.32% of the stock is currently owned by insiders.

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.