Syon Capital LLC Purchases Shares of 5,319 Tapestry, Inc. $TPR

Syon Capital LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the third quarter, HoldingsChannel reports. The fund acquired 5,319 shares of the luxury accessories retailer’s stock, valued at approximately $602,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Fortis Group Advisors LLC acquired a new stake in Tapestry during the third quarter worth about $775,000. NEOS Investment Management LLC increased its position in Tapestry by 60.9% during the 3rd quarter. NEOS Investment Management LLC now owns 27,744 shares of the luxury accessories retailer’s stock worth $3,141,000 after purchasing an additional 10,504 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Tapestry by 75.0% in the third quarter. GSA Capital Partners LLP now owns 4,661 shares of the luxury accessories retailer’s stock valued at $528,000 after buying an additional 1,997 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in Tapestry during the third quarter worth approximately $210,000. Finally, Rothschild Investment LLC lifted its holdings in shares of Tapestry by 55.8% during the 3rd quarter. Rothschild Investment LLC now owns 2,978 shares of the luxury accessories retailer’s stock valued at $337,000 after acquiring an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the sale, the chief executive officer owned 671,193 shares in the company, valued at approximately $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott A. Roe sold 44,290 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 139,128 shares of the company’s stock, valued at approximately $21,233,715.36. This represents a 24.15% 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 worth $26,471,214 in the last quarter. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Price Performance

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

Tapestry (NYSE:TPR) last announced its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.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 business posted $2.00 EPS. The business’s revenue 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, sell-side analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its Board of Directors has authorized a share repurchase program on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Tapestry Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on TPR shares. JPMorgan Chase & Co. raised their target price on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Zacks Research raised Tapestry from a “hold” rating to a “strong-buy” rating in a report on Monday, February 9th. The Goldman Sachs Group set a $166.00 price objective on Tapestry in a research note on Friday, February 6th. Morgan Stanley upped their target price on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Robert W. Baird set a $160.00 price target on shares of Tapestry in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.