Erste Asset Management GmbH Decreases Position in Tapestry, Inc. $TPR

Erste Asset Management GmbH decreased its position in Tapestry, Inc. (NYSE:TPR) by 20.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 973,400 shares of the luxury accessories retailer’s stock after selling 256,831 shares during the period. Tapestry comprises approximately 1.0% of Erste Asset Management GmbH’s portfolio, making the stock its 19th biggest holding. Erste Asset Management GmbH owned 0.48% of Tapestry worth $108,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TPR. Cloud Capital Management LLC acquired a new stake in Tapestry in the 3rd quarter valued at about $26,000. Vestor Capital LLC purchased a new stake in shares of Tapestry in the second quarter valued at about $27,000. Johnson Financial Group Inc. acquired a new stake in shares of Tapestry in the second quarter valued at approximately $39,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Tapestry during the 2nd quarter worth approximately $45,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other news, Director Thomas Greco sold 14,245 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was 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 document filed with the SEC, which is available through this hyperlink. Also, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total value of $329,500.09. Following the completion of the transaction, the vice president directly owned 18,475 shares in the company, valued at $2,835,358.25. This represents a 10.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 165,539 shares of company stock valued at $25,364,406 over the last three months. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Tapestry stock opened at $160.50 on Friday. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $161.97. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The firm has a 50 day moving average price of $137.54 and a 200 day moving average price of $119.34. The company has a market cap of $32.50 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 1.88 and a beta of 1.63.

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share 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 company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter last year, the business earned $2.00 EPS. Tapestry’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. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its board has initiated a stock repurchase program on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis 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 Analysts Forecast Growth

A number of brokerages have commented on TPR. Guggenheim began coverage on Tapestry in a report on Tuesday, December 9th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their price objective on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. BTIG Research boosted their target price on shares of Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Evercore upped their price objective on shares of Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.