King Luther Capital Management Corp Sells 4,699 Shares of Tapestry, Inc. $TPR

King Luther Capital Management Corp lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 28.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,829 shares of the luxury accessories retailer’s stock after selling 4,699 shares during the quarter. King Luther Capital Management Corp’s holdings in Tapestry were worth $1,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Woodline Partners LP increased its holdings in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after acquiring an additional 3,495 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Tapestry during the first quarter valued at about $493,000. Sivia Capital Partners LLC purchased a new position in shares of Tapestry during the second quarter valued at about $602,000. Sequoia Financial Advisors LLC bought a new stake in shares of Tapestry in the second quarter worth about $227,000. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Tapestry by 16.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 11,272 shares of the luxury accessories retailer’s stock worth $978,000 after buying an additional 1,630 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 3.2%

NYSE:TPR opened at $157.11 on Friday. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $158.28. The company has a 50-day moving average of $134.93 and a 200 day moving average of $118.07. The firm has a market cap of $31.81 billion, a PE ratio of 64.92, a price-to-earnings-growth ratio of 1.87 and a beta of 1.63.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm posted $2.00 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its board has authorized a share repurchase plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

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

Insider Activity at Tapestry

In other Tapestry news, VP Manesh Dadlani sold 2,147 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total transaction of $329,500.09. Following the sale, the vice president owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. This trade represents a 10.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total value of $1,426,412.92. Following the completion of the transaction, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. The trade was a 25.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 175,883 shares of company stock valued at $26,471,214 over the last 90 days. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Robert W. Baird set a $160.00 target price on Tapestry in a research report on Friday, February 6th. Sanford C. Bernstein restated an “outperform” rating and set a $170.00 target price on shares of Tapestry in a research report on Friday, February 6th. Guggenheim started coverage on Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane started coverage on shares of Tapestry in a research note on Friday, February 13th. They issued an “outperform” rating and a $176.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.