Tapestry, Inc. $TPR Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in Tapestry, Inc. (NYSE:TPR) by 57.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 67,182 shares of the luxury accessories retailer’s stock after acquiring an additional 24,576 shares during the period. Public Sector Pension Investment Board’s holdings in Tapestry were worth $7,606,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cloud Capital Management LLC acquired a new stake in Tapestry in the third quarter valued at about $26,000. Vestor Capital LLC purchased a new position in shares of Tapestry during the 2nd quarter worth approximately $27,000. CVA Family Office LLC lifted its holdings in shares of Tapestry by 224.8% in the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after buying an additional 263 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Tapestry in the 2nd quarter valued at approximately $39,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Tapestry during the second quarter worth $45,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other Tapestry news, CEO Todd Kahn sold 39,815 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $151.34, for a total value of $6,025,602.10. Following the sale, the chief executive officer directly owned 120,578 shares of the company’s stock, valued at approximately $18,248,274.52. This trade represents a 24.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Roe sold 44,290 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the sale, the chief financial officer owned 139,128 shares of the company’s stock, valued at $21,233,715.36. This trade represents a 24.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 163,372 shares of company stock worth $22,026,898 in the last three months. 1.32% of the stock is currently owned by company insiders.

Tapestry Stock Performance

NYSE TPR opened at $153.74 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 63.53, a price-to-earnings-growth ratio of 1.89 and a beta of 1.63. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $158.28. The business has a fifty day moving average of $132.93 and a 200-day moving average of $117.25.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The firm’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. As a group, analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal 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 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 an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Tapestry’s dividend payout ratio (DPR) is 66.12%.

Wall Street Analyst Weigh In

TPR has been the subject of a number of recent analyst reports. Jefferies Financial Group downgraded 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 report on Wednesday, January 14th. Barclays set a $179.00 price target on shares of Tapestry and gave the company an “overweight” rating in a research report on Friday, February 6th. Citigroup boosted their price target on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Evercore raised their price objective on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Telsey Advisory Group lifted their price objective on Tapestry to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus 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.