WT Asset Management Ltd Boosts Stock Position in Tapestry, Inc. $TPR

WT Asset Management Ltd grew its holdings in Tapestry, Inc. (NYSE:TPR) by 128.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 803,818 shares of the luxury accessories retailer’s stock after purchasing an additional 451,378 shares during the period. Tapestry comprises approximately 4.2% of WT Asset Management Ltd’s holdings, making the stock its 12th largest holding. WT Asset Management Ltd owned approximately 0.39% of Tapestry worth $91,008,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in Tapestry in the 3rd quarter worth about $26,000. Vestor Capital LLC bought a new position in Tapestry in the second quarter worth approximately $27,000. CVA Family Office LLC increased its holdings in Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after purchasing an additional 263 shares during the period. Johnson Financial Group Inc. bought a new stake in Tapestry during the 2nd quarter valued at $39,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Tapestry in the 2nd quarter worth $45,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TPR shares. Morgan Stanley lifted their price objective on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Sanford C. Bernstein reiterated an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research note on Friday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. The Goldman Sachs Group set a $166.00 target price on Tapestry in a research report on Friday, February 6th. Finally, BNP Paribas Exane started coverage on Tapestry in a research note on Friday, February 13th. They set an “outperform” rating and a $176.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Tapestry Stock Up 2.4%

Tapestry stock traded up $3.73 during midday trading on Friday, reaching $156.03. The company’s stock had a trading volume of 162,106 shares, compared to its average volume of 2,400,000. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. The stock has a market capitalization of $31.59 billion, a P/E ratio of 64.40, a PEG ratio of 1.90 and a beta of 1.63. The stock’s 50-day simple moving average is $134.25 and its 200-day simple moving average is $117.75. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $158.28.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.49. The firm 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 company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

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

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

Insider Transactions at Tapestry

In related news, CFO Scott A. Roe sold 44,290 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the transaction, the chief financial officer owned 139,128 shares in the company, valued at $21,233,715.36. This trade represents a 24.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas Greco sold 14,245 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the sale, the director owned 21,302 shares in the company, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 175,883 shares of company stock worth $26,471,214 over the last 90 days. Insiders own 1.32% of the company’s stock.

Tapestry Company 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.