Impax Asset Management Group plc Invests $6.76 Million in Tapestry, Inc. $TPR

Impax Asset Management Group plc acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,742 shares of the luxury accessories retailer’s stock, valued at approximately $6,764,000.

Several other hedge funds have also recently made changes to their positions in TPR. Convergence Financial LLC lifted its position in Tapestry by 3.0% during the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after acquiring an additional 98 shares during the period. Earned Wealth Advisors LLC lifted its position in Tapestry by 1.6% during the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after purchasing an additional 116 shares during the period. Blue Trust Inc. boosted its holdings in Tapestry by 19.7% in the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after purchasing an additional 122 shares during the last quarter. Wedmont Private Capital grew its position in Tapestry by 3.3% during the 3rd quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock worth $502,000 after purchasing an additional 139 shares during the period. Finally, 44 Wealth Management LLC raised its stake in shares of Tapestry by 0.8% during the 2nd quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock valued at $1,670,000 after buying an additional 142 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tapestry

In other news, CFO Scott A. Roe sold 18,794 shares of the 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd Kahn sold 39,815 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the completion of the transaction, the chief executive officer directly owned 120,578 shares in the company, valued at approximately $18,248,274.52. This represents a 24.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 155,300 shares of company stock valued at $18,059,660. 1.32% of the stock is owned by company insiders.

Tapestry Price Performance

Shares of Tapestry stock opened at $154.47 on Thursday. The stock has a market capitalization of $31.27 billion, a P/E ratio of 63.83, a PEG ratio of 1.89 and a beta of 1.63. The business has a 50 day simple moving average of $129.99 and a two-hundred day simple moving average of $115.92. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $158.20. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its Board of Directors has initiated a share repurchase 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 repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s payout ratio is 66.12%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TPR. The Goldman Sachs Group set a $166.00 target price on Tapestry in a research note on Friday, February 6th. Guggenheim began coverage on Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. Citigroup raised their price objective on shares of Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Argus raised shares of Tapestry to a “strong-buy” rating in a report on Friday, January 16th. Finally, Zacks Research raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.33.

About Tapestry

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.