Legacy Capital Group California Inc. Has $1.17 Million Stake in Tapestry, Inc. $TPR

Legacy Capital Group California Inc. reduced its stake in Tapestry, Inc. (NYSE:TPR) by 27.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,350 shares of the luxury accessories retailer’s stock after selling 3,911 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Tapestry were worth $1,172,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TPR. Schroder Investment Management Group raised its position in shares of Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after purchasing an additional 3,775,593 shares during the period. Norges Bank bought a new stake in shares of Tapestry during the 2nd quarter worth $227,248,000. Massachusetts Financial Services Co. MA raised its holdings in Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after acquiring an additional 1,750,566 shares during the period. AQR Capital Management LLC raised its holdings 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 acquiring an additional 939,227 shares during the period. Finally, Marshall Wace LLP lifted its position in 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 acquiring an additional 919,569 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. UBS Group reaffirmed a “neutral” rating and issued a $141.00 target price on shares of Tapestry in a report on Monday, February 9th. Guggenheim began coverage on Tapestry in a report on Tuesday, December 9th. They set a “neutral” rating for the company. BNP Paribas Exane assumed coverage on Tapestry in a research report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Transactions at Tapestry

In other Tapestry news, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction 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 completion of the transaction, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Manesh Dadlani sold 2,147 shares of the stock in a transaction dated 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 $2,835,358.25. This trade represents a 10.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 164,956 shares of company stock valued at $25,297,262. 1.32% of the stock is owned by insiders.

Tapestry Stock Performance

Shares of NYSE TPR opened at $144.10 on Friday. Tapestry, Inc. has a one year low of $58.39 and a one year high of $161.97. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. The business has a fifty day simple moving average of $140.38 and a 200 day simple moving average of $121.34. The firm has a market capitalization of $29.17 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 1.79 and a beta of 1.55.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.49. The business had revenue of $2.50 billion for 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 firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is currently 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.