Teachers Retirement System of The State of Kentucky Trims Stock Position in Tapestry, Inc. $TPR

Teachers Retirement System of The State of Kentucky lessened its stake in Tapestry, Inc. (NYSE:TPR) by 24.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 290,399 shares of the luxury accessories retailer’s stock after selling 96,000 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.14% of Tapestry worth $32,879,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Convergence Financial LLC raised its position in Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after acquiring an additional 98 shares in the last quarter. Essex Financial Services Inc. grew its stake in shares of Tapestry by 3.5% during the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock worth $376,000 after purchasing an additional 113 shares during the period. Blue Trust Inc. increased its holdings in shares of Tapestry by 19.7% during the 3rd quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after purchasing an additional 122 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Tapestry by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after purchasing an additional 139 shares during the period. Finally, 44 Wealth Management LLC lifted its stake in shares of Tapestry by 0.8% in the 2nd quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock valued at $1,670,000 after purchasing an additional 142 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 39,815 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the transaction, the chief executive officer directly owned 120,578 shares in the company, valued at approximately $18,248,274.52. The trade was a 24.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 44,290 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total transaction of $6,759,539.80. Following 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 165,539 shares of company stock valued at $25,364,406. Company insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on shares of Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating for the company. TD Cowen restated a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. BTIG Research lifted their price target on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Sanford C. Bernstein reiterated an “outperform” rating and set a $170.00 price target on shares of Tapestry in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.00.

Tapestry Stock Performance

NYSE TPR opened at $156.59 on Tuesday. 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’s 50 day simple moving average is $138.69 and its 200-day simple moving average is $120.20. The company has a market cap of $31.70 billion, a PE ratio of 64.71, a price-to-earnings-growth ratio of 1.86 and a beta of 1.55. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $161.97.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the business earned $2.00 earnings per share. The firm’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, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its board has approved a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

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

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.