Rakuten Investment Management Inc. Buys Shares of 5,874 Tapestry, Inc. $TPR

Rakuten Investment Management Inc. bought a new position in Tapestry, Inc. (NYSE:TPR) in the third quarter, Holdings Channel.com reports. The firm bought 5,874 shares of the luxury accessories retailer’s stock, valued at approximately $665,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after buying an additional 158,782 shares during the last quarter. SRS Investment Management LLC increased its holdings in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after buying an additional 589,000 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Tapestry by 1,661.6% in 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 acquiring an additional 3,775,593 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake 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 acquiring an additional 939,227 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other news, insider David E. Howard sold 25,029 shares of Tapestry stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the sale, the insider owned 55,354 shares in the company, valued at $5,673,785. The trade was a 31.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Scott A. Roe sold 18,794 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer owned 148,149 shares in the company, valued at $15,533,422.65. The trade was a 11.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent research reports. BTIG Research initiated coverage on Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price for the company. Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday. Barclays boosted their target price on shares of Tapestry from $154.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. Finally, Citigroup raised their price target on shares of Tapestry from $124.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $129.11.

Tapestry Stock Performance

NYSE:TPR opened at $129.97 on Friday. 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 fifty-two week low of $58.39 and a fifty-two week high of $136.04. The company has a 50 day simple moving average of $122.31 and a two-hundred day simple moving average of $112.85. The company has a market capitalization of $26.60 billion, a PE ratio of 116.04, a P/E/G ratio of 2.25 and a beta of 1.63.

Tapestry (NYSE:TPR) last issued 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 net margin of 3.77% and a return on equity of 116.42%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry declared that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Tapestry Announces Dividend

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

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.