Truist Financial Corp Buys 141,989 Shares of Tapestry, Inc. $TPR

Truist Financial Corp increased its position in Tapestry, Inc. (NYSE:TPR) by 33.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,020 shares of the luxury accessories retailer’s stock after acquiring an additional 141,989 shares during the quarter. Truist Financial Corp owned about 0.27% of Tapestry worth $64,424,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. 1858 Wealth Management LLC increased its stake in shares of Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after purchasing an additional 95 shares in the last quarter. Convergence Financial LLC boosted its holdings in Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after buying an additional 98 shares during the period. Earned Wealth Advisors LLC increased its stake in Tapestry by 1.6% in the 2nd quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock worth $641,000 after buying an additional 116 shares in the last quarter. Blue Trust Inc. raised its holdings in Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after acquiring an additional 122 shares during the period. Finally, Wedmont Private Capital raised its holdings in Tapestry by 3.3% during the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 1.3%

Shares of TPR opened at $125.94 on Thursday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93. The stock has a market capitalization of $25.77 billion, a price-to-earnings ratio of 112.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.63. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $136.04. The business’s 50 day simple moving average is $123.72 and its 200-day simple moving average is $113.47.

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

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

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were issued a $0.40 dividend. 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 1.3%. Tapestry’s dividend payout ratio (DPR) is presently 142.86%.

Insider Buying and Selling

In other news, 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 transaction, the chief financial officer owned 148,149 shares in the company, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at approximately $70,266,307.23. This represents a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,485 shares of company stock valued at $12,034,058 in the last quarter. 1.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on TPR. Raymond James Financial increased their target price on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. UBS Group increased their price objective on shares of Tapestry from $105.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Robert W. Baird set a $140.00 price objective on shares of Tapestry in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $129.11.

Tapestry Company 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.