Great Lakes Advisors LLC Invests $1.60 Million in Tapestry, Inc. $TPR

Great Lakes Advisors LLC acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,154 shares of the luxury accessories retailer’s stock, valued at approximately $1,603,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after buying an additional 606,686 shares during the period. Geode Capital Management LLC boosted its position in shares of Tapestry by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after acquiring an additional 158,782 shares in the last quarter. SRS Investment Management LLC boosted its position in shares of Tapestry by 12.4% during the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after acquiring an additional 589,000 shares in the last quarter. Schroder Investment Management Group increased its stake in Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after acquiring an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC raised its position in Tapestry by 36.0% in the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock worth $311,388,000 after purchasing an additional 939,227 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 29,000 shares of Tapestry stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total value of $2,982,070.00. Following the completion of the sale, the chief executive officer directly owned 86,736 shares of the company’s stock, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the sale, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. The trade was a 31.14% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Down 0.4%

Shares of NYSE:TPR opened at $126.81 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. The firm has a market cap of $25.95 billion, a P/E ratio of 113.23, a P/E/G ratio of 2.18 and a beta of 1.63. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04. The company’s 50-day moving average price is $124.65 and its two-hundred day moving average price is $113.83.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping 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 company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.3%. Tapestry’s dividend payout ratio is currently 142.86%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPR. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Morgan Stanley boosted their price target on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. UBS Group increased their price objective on Tapestry from $105.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Citigroup lifted their price objective on Tapestry from $124.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, Argus raised shares of Tapestry to a “strong-buy” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.95.

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.