Cambria Investment Management L.P. Acquires Shares of 6,581 Tapestry, Inc. $TPR

Cambria Investment Management L.P. bought a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,581 shares of the luxury accessories retailer’s stock, valued at approximately $745,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TPR. Woodline Partners LP grew its holdings in Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter worth about $493,000. Sivia Capital Partners LLC purchased a new position in Tapestry in the 2nd quarter valued at about $602,000. Strs Ohio boosted its holdings in Tapestry by 17.9% in the 2nd quarter. Strs Ohio now owns 18,257 shares of the luxury accessories retailer’s stock worth $1,603,000 after buying an additional 2,777 shares during the last quarter. Finally, State of Michigan Retirement System increased its stake in Tapestry by 0.5% during the 2nd quarter. State of Michigan Retirement System now owns 56,499 shares of the luxury accessories retailer’s stock worth $4,961,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Trading Up 1.7%

TPR opened at $157.08 on Thursday. The stock has a market capitalization of $31.80 billion, a PE ratio of 64.91, a P/E/G ratio of 1.85 and a beta of 1.55. Tapestry, Inc. has a one year low of $58.39 and a one year high of $161.97. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The business’s 50 day moving average price is $139.73 and its 200 day moving average price is $120.83.

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. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders 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 dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s payout ratio is 66.12%.

Tapestry declared that its board has approved a stock buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to buy 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 stock is undervalued.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research analyst reports. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 28th. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They set an “outperform” rating and a $176.00 target price for the company. Zacks Research upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Wells Fargo & Company increased their price objective on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Citigroup boosted their target price on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 39,815 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 120,578 shares of the company’s stock, valued at approximately $18,248,274.52. This trade represents a 24.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Scott A. Roe sold 44,290 shares of the company’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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 164,956 shares of company stock worth $25,297,262. 1.32% of the stock is owned by company insiders.

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.