Shell Asset Management Co. Has $220,000 Stake in Tapestry, Inc. $TPR

Shell Asset Management Co. trimmed its stake in Tapestry, Inc. (NYSE:TPR) by 78.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,946 shares of the luxury accessories retailer’s stock after selling 7,257 shares during the quarter. Shell Asset Management Co.’s holdings in Tapestry were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. ABN Amro Investment Solutions acquired a new position in Tapestry in the 3rd quarter valued at approximately $360,000. GenTrust LLC acquired a new position in shares of Tapestry in the third quarter worth $217,000. Aberdeen Group plc raised its holdings in shares of Tapestry by 115.0% during the third quarter. Aberdeen Group plc now owns 35,322 shares of the luxury accessories retailer’s stock worth $3,911,000 after acquiring an additional 18,895 shares in the last quarter. Florida Financial Advisors LLC acquired a new stake in Tapestry during the third quarter valued at $1,337,000. Finally, Freemont Management S.A. purchased a new position in Tapestry in the third quarter valued at about $600,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Up 0.7%

TPR stock opened at $154.95 on Thursday. The stock has a market capitalization of $31.37 billion, a price-to-earnings ratio of 64.03, a price-to-earnings-growth ratio of 1.89 and a beta of 1.63. The company has a 50-day moving average of $133.68 and a two-hundred day moving average of $117.51. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $158.28. 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 posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $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, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

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

Tapestry declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and cut their price target for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. TD Cowen restated a “buy” rating on shares of Tapestry in a research note on Tuesday, February 10th. Morgan Stanley lifted their price objective on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Barclays set a $179.00 target price on shares of Tapestry and gave the stock an “overweight” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Insider Buying and Selling

In related news, CFO Scott A. Roe sold 44,290 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total transaction of $6,759,539.80. Following the completion of the transaction, the chief financial officer directly owned 139,128 shares in the company, valued at $21,233,715.36. This represents a 24.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Anne Gates sold 6,498 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total transaction of $999,327.42. Following the completion of the sale, the director directly owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. This trade represents a 22.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 177,617 shares of company stock valued at $24,226,896 in the last ninety days. 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.