Sirios Capital Management L P Purchases New Shares in Tapestry, Inc. $TPR

Sirios Capital Management L P bought a new stake in Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,784 shares of the luxury accessories retailer’s stock, valued at approximately $768,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Schroder Investment Management Group boosted its holdings in Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after buying an additional 3,775,593 shares during the last quarter. Norges Bank purchased a new position in shares of Tapestry in the second quarter valued at approximately $227,248,000. Massachusetts Financial Services Co. MA lifted its position in shares of Tapestry by 250.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after acquiring an additional 1,750,566 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Tapestry by 36.0% in the second 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 last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Tapestry by 2,547.4% in the second 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. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Down 0.4%

Shares of TPR opened at $142.12 on Friday. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $161.97. The company has a market capitalization of $28.77 billion, a PE ratio of 58.73, a price-to-earnings-growth ratio of 1.71 and a beta of 1.55. The stock has a fifty day simple moving average of $141.96 and a two-hundred day simple moving average of $122.94. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last announced its quarterly 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. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company posted $2.00 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Tapestry’s payout ratio is 66.12%.

Analyst Ratings Changes

TPR has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. 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. Sanford C. Bernstein reissued an “outperform” rating and issued a $170.00 price target on shares of Tapestry in a research note on Friday, February 6th. Wells Fargo & Company boosted their price target on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Citigroup upped their price objective on shares of Tapestry from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Two 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.06.

Insider Buying and Selling

In other news, CFO Scott A. Roe sold 44,290 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the sale, the chief financial officer owned 139,128 shares of the company’s stock, valued at $21,233,715.36. This represents a 24.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 26,942 shares of the company’s stock, valued at $4,192,714.04. This represents a 25.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 164,956 shares of company stock worth $25,297,262 over the last ninety days. 1.32% of the stock is currently owned by insiders.

About Tapestry

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.