Tapestry, Inc. $TPR Shares Acquired by Marshall Wace LLP

Marshall Wace LLP boosted its stake in Tapestry, Inc. (NYSE:TPR) by 2,547.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 955,667 shares of the luxury accessories retailer’s stock after buying an additional 919,569 shares during the period. Marshall Wace LLP’s holdings in Tapestry were worth $83,917,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Harbour Investments Inc. lifted its stake 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 worth $25,000 after acquiring an additional 197 shares during the period. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the first quarter valued at approximately $25,000. First PREMIER Bank bought a new stake in Tapestry during the second quarter worth approximately $25,000. Vestor Capital LLC acquired a new stake in Tapestry in the second quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Tapestry during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of research reports. BTIG Research assumed coverage on Tapestry in a research note on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price objective on the stock. Barclays raised their target price on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Telsey Advisory Group reissued an “outperform” rating and issued a $125.00 price target on shares of Tapestry in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.26.

Tapestry Trading Up 0.9%

Shares of NYSE TPR opened at $116.15 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $118.56. The company has a market cap of $23.77 billion, a price-to-earnings ratio of 103.71, a P/E/G ratio of 2.35 and a beta of 1.65. The business has a fifty day simple moving average of $110.43 and a 200-day simple moving average of $101.64.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $0.84 EPS. Tapestry’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Sell-side analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. Tapestry’s payout ratio is currently 142.86%.

Tapestry declared that its board has authorized a stock repurchase plan on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Todd Kahn sold 10,344 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $107.00, for a total value of $1,106,808.00. Following the completion of the transaction, the chief executive officer owned 131,815 shares of the company’s stock, valued at approximately $14,104,205. This trade represents a 7.28% 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 18,794 shares of Tapestry stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the transaction, the chief financial officer owned 148,149 shares in the company, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 126,805 shares of company stock worth $13,236,129 in the last quarter. Corporate insiders own 1.32% of the company’s stock.

Tapestry Company Profile

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.