Teacher Retirement System of Texas Increases Holdings in Tapestry, Inc. $TPR

Teacher Retirement System of Texas raised its stake in Tapestry, Inc. (NYSE:TPR) by 105.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,927 shares of the luxury accessories retailer’s stock after purchasing an additional 64,042 shares during the quarter. Teacher Retirement System of Texas’ holdings in Tapestry were worth $14,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Great Diamond Partners LLC purchased a new stake in shares of Tapestry during the third quarter valued at approximately $2,395,000. Three Seasons Wealth LLC acquired a new stake in Tapestry during the 3rd quarter valued at $1,882,000. Stevens Capital Partners acquired a new stake in Tapestry during the 3rd quarter valued at $8,880,000. Fisher Asset Management LLC increased its stake in Tapestry by 5,027.6% during the 2nd quarter. Fisher Asset Management LLC now owns 499,988 shares of the luxury accessories retailer’s stock worth $43,904,000 after buying an additional 490,237 shares during the period. Finally, Abacus FCF Advisors LLC acquired a new position in Tapestry in the 3rd quarter worth $17,332,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

In other Tapestry news, insider David E. Howard sold 25,029 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the transaction, the insider owned 55,354 shares of the company’s stock, valued at $5,673,785. This trade represents a 31.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the completion of the transaction, the insider owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,485 shares of company stock valued at $12,034,058 over the last quarter. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Argus upgraded Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. The Goldman Sachs Group raised their price objective on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Tapestry in a research report on Tuesday, January 6th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and reduced their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company lifted their price target on shares of Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $129.11.

Tapestry Price Performance

Shares of NYSE TPR opened at $129.97 on Friday. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 116.04, a price-to-earnings-growth ratio of 2.25 and a beta of 1.63. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $136.04. The business has a 50 day simple moving average of $122.31 and a 200-day simple moving average of $112.85.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS 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 firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The firm’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, equities research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its board has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes 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 board believes its stock is undervalued.

Tapestry Dividend Announcement

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

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.