Tapestry, Inc. $TPR Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC grew its stake in Tapestry, Inc. (NYSE:TPR) by 21.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 608,266 shares of the luxury accessories retailer’s stock after buying an additional 108,278 shares during the period. Fisher Asset Management LLC owned 0.30% of Tapestry worth $68,868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group boosted 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 in the last quarter. Norges Bank purchased a new stake in shares of Tapestry in the 2nd quarter valued at about $227,248,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after purchasing an additional 1,750,566 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after purchasing an additional 939,227 shares during the period. Finally, Marshall Wace LLP grew its stake in Tapestry by 2,547.4% during the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock worth $83,917,000 after buying an additional 919,569 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Performance

Shares of TPR opened at $156.59 on Tuesday. The stock has a market capitalization of $31.70 billion, a P/E ratio of 64.71, a P/E/G ratio of 1.86 and a beta of 1.55. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $161.97. The company’s fifty day moving average is $138.69 and its two-hundred day moving average is $120.20.

Tapestry (NYSE:TPR) last issued 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. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its board has approved a share repurchase program on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Tapestry Dividend Announcement

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

Insiders Place Their Bets

In other Tapestry news, Director Anne Gates sold 6,498 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total value of $999,327.42. Following the completion of the sale, the director owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. This trade represents a 22.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Greco sold 14,245 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the sale, the director owned 21,302 shares in the company, valued at $3,289,880.88. The trade was a 40.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 165,539 shares of company stock worth $25,364,406. Corporate insiders own 1.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TPR shares. JPMorgan Chase & Co. increased their price objective on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Argus upgraded shares of Tapestry to a “strong-buy” rating in a research report on Friday, January 16th. Morgan Stanley increased their price target on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Citigroup raised their price objective on shares of Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.