Tapestry, Inc. $TPR Shares Bought by WT Asset Management Ltd

WT Asset Management Ltd raised its holdings in Tapestry, Inc. (NYSE:TPR) by 128.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 803,818 shares of the luxury accessories retailer’s stock after purchasing an additional 451,378 shares during the quarter. Tapestry accounts for approximately 4.2% of WT Asset Management Ltd’s investment portfolio, making the stock its 12th biggest holding. WT Asset Management Ltd’s holdings in Tapestry were worth $91,008,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Schroder Investment Management Group lifted its holdings 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 buying an additional 3,775,593 shares during the period. Norges Bank purchased a new position in Tapestry during the second quarter valued at approximately $227,248,000. Massachusetts Financial Services Co. MA lifted its holdings in Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after acquiring an additional 1,750,566 shares during the period. AQR Capital Management LLC boosted its position in 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 worth $311,388,000 after purchasing an additional 939,227 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Tapestry by 2,547.4% during the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock worth $83,917,000 after purchasing an additional 919,569 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE TPR traded up $3.73 during mid-day trading on Friday, hitting $156.03. The stock had a trading volume of 162,106 shares, compared to its average volume of 2,400,000. The firm’s 50 day moving average is $134.25 and its 200 day moving average is $117.75. 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 price-to-earnings ratio of 64.40, a PEG ratio of 1.90 and a beta of 1.63. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $158.28.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates 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 firm earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

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

Tapestry Announces Dividend

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

Insiders Place Their Bets

In other news, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the transaction, the insider directly owned 26,942 shares in the company, valued at $4,192,714.04. The trade was a 25.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott A. Roe sold 44,290 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the sale, the chief financial officer directly owned 139,128 shares of the company’s stock, valued at approximately $21,233,715.36. This represents a 24.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 175,883 shares of company stock worth $26,471,214. 1.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TPR shares. Zacks Research upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Telsey Advisory Group increased their target price on shares of Tapestry to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Wells Fargo & Company upped their price target on Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Guggenheim initiated coverage on Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating 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 stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and an average 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.