Kane Investment Management Inc. Invests $749,000 in Tapestry, Inc. $TPR

Kane Investment Management Inc. acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,534 shares of the luxury accessories retailer’s stock, valued at approximately $749,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. First PREMIER Bank acquired a new position in Tapestry during the second quarter worth $25,000. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter worth $25,000. Harbour Investments Inc. grew its stake in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the period. CVA Family Office LLC grew its position in Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after buying an additional 263 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry during the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 10th. Robert W. Baird set a $130.00 price target on Tapestry in a research report on Wednesday, October 29th. Finally, Raymond James Financial boosted their price target on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.25.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $101.34 on Friday. The company has a market cap of $20.74 billion, a P/E ratio of 160.85, a P/E/G ratio of 2.72 and a beta of 1.71. The business has a fifty day simple moving average of $110.85 and a 200-day simple moving average of $98.40. Tapestry, Inc. has a 52 week low of $54.98 and a 52 week high of $118.56. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities research analysts forecast 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, December 22nd. Investors of record on Friday, December 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.6%. Tapestry’s dividend payout ratio is 142.86%.

Tapestry announced that its Board of Directors has initiated a share buyback program on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.