New York Life Investment Management LLC Has $4.36 Million Position in Tapestry, Inc. $TPR

New York Life Investment Management LLC reduced its stake in shares of Tapestry, Inc. (NYSE:TPR) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,616 shares of the luxury accessories retailer’s stock after selling 2,682 shares during the quarter. New York Life Investment Management LLC’s holdings in Tapestry were worth $4,357,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Harbour Investments Inc. grew its position in shares of Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at approximately $25,000. First PREMIER Bank acquired a new position in shares of Tapestry in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry in the 1st quarter valued at approximately $29,000. Finally, CVA Family Office LLC grew its position in shares of Tapestry by 224.8% in the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after purchasing an additional 263 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TPR shares. Raymond James Financial boosted their price objective on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 25th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $112.00 price objective on shares of Tapestry in a research report on Friday, August 15th. UBS Group reduced their price target on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on Tapestry from $139.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.60.

Tapestry Trading Down 1.4%

NYSE:TPR opened at $111.32 on Friday. Tapestry, Inc. has a twelve month low of $46.77 and a twelve month 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. The business has a 50 day moving average price of $110.34 and a two-hundred day moving average price of $95.41. The company has a market cap of $23.04 billion, a P/E ratio of 176.70, a price-to-earnings-growth ratio of 2.72 and a beta of 1.57.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the business posted $0.92 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio (DPR) is currently 253.97%.

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.