KLP Kapitalforvaltning AS Has $19.08 Million Stock Holdings in Tapestry, Inc. $TPR

KLP Kapitalforvaltning AS lifted its stake in Tapestry, Inc. (NYSE:TPR) by 233.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,500 shares of the luxury accessories retailer’s stock after acquiring an additional 117,900 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Tapestry were worth $19,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC grew its stake in Tapestry by 11.1% in the third quarter. Cerity Partners LLC now owns 258,391 shares of the luxury accessories retailer’s stock valued at $29,255,000 after purchasing an additional 25,912 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of Tapestry by 50.5% in the third quarter. CoreCap Advisors LLC now owns 2,833 shares of the luxury accessories retailer’s stock valued at $321,000 after buying an additional 951 shares in the last quarter. Kathmere Capital Management LLC grew its stake in shares of Tapestry by 36.3% in the third quarter. Kathmere Capital Management LLC now owns 8,555 shares of the luxury accessories retailer’s stock valued at $969,000 after buying an additional 2,277 shares in the last quarter. Cigna Investments Inc. New acquired a new position in Tapestry during the third quarter worth $236,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Tapestry by 87.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 203,430 shares of the luxury accessories retailer’s stock worth $23,032,000 after acquiring an additional 94,989 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Trading Down 1.6%

Shares of NYSE:TPR opened at $131.00 on Thursday. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $133.99. The business has a 50 day moving average of $115.80 and a 200-day moving average of $109.18. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. The stock has a market cap of $26.81 billion, a PE ratio of 116.97, a P/E/G ratio of 2.74 and a beta of 1.63.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were issued a dividend of $0.40 per share. 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 1.2%. Tapestry’s dividend payout ratio (DPR) is currently 142.86%.

Tapestry announced that its Board of Directors has initiated a stock 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 purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TPR shares. Evercore ISI lifted their price objective on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. BTIG Research started coverage on Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target for the company. Wells Fargo & Company boosted their price target on Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Jefferies Financial Group raised their price objective on Tapestry from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Raymond James Financial boosted their target price on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has an average rating of “Moderate Buy” and an average price target of $125.26.

Insider Buying and Selling

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of Tapestry 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 owned 19,285 shares in the company, valued at $2,221,053.45. The trade was a 2.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the sale, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at $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 90 days. 1.32% of the stock is currently owned by corporate insiders.

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.