Tapestry, Inc. $TPR Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 8.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,267 shares of the luxury accessories retailer’s stock after selling 16,371 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Tapestry worth $21,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in shares of Tapestry by 1,661.6% during the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after buying an additional 3,775,593 shares during the last quarter. Norges Bank acquired a new stake in Tapestry during the second quarter worth about $227,248,000. AQR Capital Management LLC raised its position in Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after acquiring an additional 939,227 shares in the last quarter. Marshall Wace LLP lifted its holdings in Tapestry by 2,547.4% in the second quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock valued at $83,917,000 after acquiring an additional 919,569 shares during the period. Finally, Aviva PLC purchased a new stake in Tapestry in the 2nd quarter worth approximately $67,612,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tapestry

In other news, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total transaction of $67,144.11. Following the completion of the sale, the insider owned 19,285 shares of the company’s stock, valued at $2,221,053.45. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Kahn sold 10,344 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $107.00, for a total transaction of $1,106,808.00. Following the completion of the sale, the chief executive officer owned 131,815 shares of the company’s stock, valued at $14,104,205. This trade represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,485 shares of company stock worth $12,034,058 over the last 90 days. Corporate insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TPR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Morgan Stanley upped their price objective on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Telsey Advisory Group restated an “outperform” rating and issued a $150.00 price target on shares of Tapestry in a research note on Wednesday, December 17th. Finally, Barclays upped their price target on Tapestry from $154.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.26.

Tapestry Trading Down 0.4%

Shares of Tapestry stock opened at $133.75 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $136.04. The firm has a market capitalization of $27.37 billion, a PE ratio of 119.42, a P/E/G ratio of 2.76 and a beta of 1.63. The firm’s 50-day moving average price is $117.29 and its 200 day moving average price is $110.35.

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

Tapestry announced that its board has approved 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 reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were issued a $0.40 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s dividend payout ratio (DPR) is presently 142.86%.

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.