Convergence Investment Partners LLC Buys New Holdings in Tapestry, Inc. $TPR

Convergence Investment Partners LLC purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,276 shares of the luxury accessories retailer’s stock, valued at approximately $711,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Woodline Partners LP increased its stake in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after buying an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Tapestry in the first quarter valued at about $493,000. Sivia Capital Partners LLC bought a new position in shares of Tapestry during the second quarter valued at about $602,000. Janney Montgomery Scott LLC boosted its holdings in shares of Tapestry by 292.3% during the second quarter. Janney Montgomery Scott LLC now owns 30,733 shares of the luxury accessories retailer’s stock worth $2,699,000 after purchasing an additional 22,899 shares during the period. Finally, PFG Investments LLC grew its stake in shares of Tapestry by 14.1% in the second quarter. PFG Investments LLC now owns 3,320 shares of the luxury accessories retailer’s stock worth $292,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays raised their price target on Tapestry from $154.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. UBS Group raised their target price on shares of Tapestry from $105.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Citigroup lifted their target price on shares of Tapestry from $124.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Raymond James Financial increased their price target on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Finally, Robert W. Baird set a $140.00 price objective on Tapestry in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $129.95.

Tapestry Stock Up 2.1%

Tapestry stock opened at $129.53 on Tuesday. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04. The stock has a fifty day simple moving average of $125.13 and a two-hundred day simple moving average of $114.11. 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 cap of $26.51 billion, a price-to-earnings ratio of 115.65, a PEG ratio of 2.17 and a beta of 1.63.

Tapestry (NYSE:TPR) last announced its quarterly 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 net margin of 3.77% and a return on equity of 116.42%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.84 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

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

Tapestry declared that its board has approved a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Tapestry news, CEO Joanne C. Crevoiserat sold 31,735 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Scott A. Roe sold 18,794 shares of the company’s stock in a transaction on Friday, November 21st. The stock was 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 of the company’s stock, valued at $15,533,422.65. This represents a 11.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,485 shares of company stock worth $12,034,058 in the last quarter. Company 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.