Ritholtz Wealth Management Acquires 28,477 Shares of Tapestry, Inc. $TPR

Ritholtz Wealth Management increased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 63.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 73,486 shares of the luxury accessories retailer’s stock after acquiring an additional 28,477 shares during the period. Ritholtz Wealth Management’s holdings in Tapestry were worth $8,320,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Woodline Partners LP lifted its position in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Tapestry in the 1st quarter worth about $493,000. Strs Ohio bought a new stake in Tapestry during the 1st quarter valued at about $1,090,000. Czech National Bank lifted its holdings in Tapestry by 6.8% during the 2nd quarter. Czech National Bank now owns 50,781 shares of the luxury accessories retailer’s stock valued at $4,459,000 after buying an additional 3,233 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Tapestry in the 2nd quarter valued at about $680,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of TPR opened at $133.13 on Friday. The firm has a market capitalization of $27.25 billion, a PE ratio of 118.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.63. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $136.04. The company’s fifty day moving average price is $119.01 and its 200-day moving average price is $110.99.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Tapestry’s payout ratio is currently 142.86%.

Tapestry announced that its Board of Directors has approved a share buyback 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TPR shares. JPMorgan Chase & Co. lifted their price target on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Jefferies Financial Group downgraded Tapestry from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $142.00 to $138.00 in a report on Wednesday. Robert W. Baird set a $140.00 target price on Tapestry in a report on Wednesday, December 17th. Morgan Stanley increased their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $126.05.

Insider Activity

In other Tapestry news, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the transaction, the chief executive officer owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott A. Roe sold 18,794 shares of Tapestry stock in a transaction that occurred on Friday, November 21st. The stock was 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 115,485 shares of company stock worth $12,034,058. Company insiders own 1.32% of the company’s stock.

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.