Vanguard Group Inc. Cuts Position in Tapestry, Inc. $TPR

Vanguard Group Inc. decreased its position in Tapestry, Inc. (NYSE:TPR) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,436,250 shares of the luxury accessories retailer’s stock after selling 466,680 shares during the quarter. Vanguard Group Inc. owned 12.29% of Tapestry worth $2,879,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPR. Fifth Third Bancorp lifted its position in shares of Tapestry by 5.3% during the 3rd quarter. Fifth Third Bancorp now owns 18,981 shares of the luxury accessories retailer’s stock worth $2,149,000 after purchasing an additional 956 shares during the last quarter. Atticus Wealth Management LLC raised its stake in Tapestry by 53.0% in the third quarter. Atticus Wealth Management LLC now owns 14,820 shares of the luxury accessories retailer’s stock valued at $1,678,000 after buying an additional 5,133 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in Tapestry by 1.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 72,398 shares of the luxury accessories retailer’s stock worth $8,197,000 after buying an additional 1,103 shares during the last quarter. ABN Amro Investment Solutions purchased a new stake in Tapestry during the 3rd quarter worth about $360,000. Finally, GenTrust LLC acquired a new position in shares of Tapestry during the 3rd quarter worth about $217,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Tapestry Stock Up 0.7%

Shares of NYSE:TPR opened at $154.95 on Thursday. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year 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. The stock has a market cap of $31.37 billion, a P/E ratio of 64.03, a P/E/G ratio of 1.89 and a beta of 1.63. The firm has a fifty day moving average price of $133.68 and a 200 day moving average price of $117.51.

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

Tapestry announced that its board has approved a stock repurchase 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In related news, Director Thomas Greco sold 14,245 shares of Tapestry stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares in the company, valued at $3,289,880.88. This trade represents a 40.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Scott A. Roe sold 44,290 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total transaction of $6,759,539.80. Following the transaction, the chief financial officer owned 139,128 shares of the company’s stock, valued at approximately $21,233,715.36. The trade was a 24.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 177,617 shares of company stock valued at $24,226,896. Corporate insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TPR shares. BTIG Research raised their target price on Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Wells Fargo & Company upped their target price on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Barclays set a $179.00 price target on shares of Tapestry and gave the company 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 assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.00.

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.