State of Wyoming Acquires New Stake in Tapestry, Inc. $TPR

State of Wyoming purchased a new position in Tapestry, Inc. (NYSE:TPR) in the second quarter, Holdings Channel reports. The fund purchased 5,586 shares of the luxury accessories retailer’s stock, valued at approximately $491,000.

Several other institutional investors have also recently bought and sold shares of TPR. Vanguard Group Inc. lifted its position in shares of Tapestry by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after purchasing an additional 606,686 shares during the last quarter. Geode Capital Management LLC raised its holdings in Tapestry by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after acquiring an additional 158,782 shares in the last quarter. SRS Investment Management LLC lifted its position in shares of Tapestry by 12.4% in the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after acquiring an additional 589,000 shares during the period. Schroder Investment Management Group increased its position in shares of Tapestry by 1,661.6% during 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 purchasing an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC increased its holdings in 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 buying an additional 939,227 shares during the period. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $123.61 on Tuesday. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 110.37, a P/E/G ratio of 2.53 and a beta of 1.65. The firm’s 50-day simple moving average is $111.21 and its 200 day simple moving average is $103.69. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $125.73.

Tapestry (NYSE:TPR) last posted its quarterly 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. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business earned $0.84 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s payout ratio is currently 142.86%.

Tapestry declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TPR. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Robert W. Baird set a $130.00 target price on Tapestry in a report on Wednesday, October 29th. BTIG Research assumed coverage on shares of Tapestry in a research report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target on the stock. Wells Fargo & Company dropped their price objective on Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Finally, Jefferies Financial Group boosted their target price on Tapestry from $135.00 to $142.00 and gave the company a “buy” rating in a research note on Friday. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tapestry has a consensus rating of “Moderate Buy” and a consensus target price of $119.63.

Insider Transactions at Tapestry

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Scott A. Roe sold 18,794 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the completion of the sale, the chief financial officer owned 148,149 shares of the company’s stock, valued at approximately $15,533,422.65. This trade represents a 11.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 115,485 shares of company stock valued at $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Tapestry Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.