Tapestry, Inc. $TPR Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 21.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 608,266 shares of the luxury accessories retailer’s stock after buying an additional 108,278 shares during the period. Fisher Asset Management LLC’s holdings in Tapestry were worth $68,868,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Tapestry during the third quarter worth $26,000. Vestor Capital LLC purchased a new position in shares of Tapestry in the second quarter valued at $27,000. Johnson Financial Group Inc. acquired a new position in shares of Tapestry during the 2nd quarter worth $39,000. SJS Investment Consulting Inc. boosted its position in shares of Tapestry by 2,171.4% in the 3rd quarter. SJS Investment Consulting Inc. now owns 477 shares of the luxury accessories retailer’s stock worth $54,000 after buying an additional 456 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in Tapestry by 53.2% in the 3rd quarter. Whittier Trust Co. now owns 478 shares of the luxury accessories retailer’s stock valued at $55,000 after acquiring an additional 166 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Up 0.7%

TPR stock opened at $156.59 on Tuesday. The company has a 50 day moving average price of $138.69 and a two-hundred day moving average price of $120.20. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The stock has a market capitalization of $31.70 billion, a P/E ratio of 64.71, a PEG ratio of 1.86 and a beta of 1.55. Tapestry, Inc. has a one year low of $58.39 and a one year high of $161.97.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 66.12%.

Tapestry declared that its Board of Directors has authorized a stock repurchase program on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on TPR shares. TD Cowen restated a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Citigroup upped their target price on Tapestry from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Wells Fargo & Company raised their price target on Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Guggenheim initiated coverage on Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling

In related news, Director Anne Gates sold 6,498 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total value of $999,327.42. Following the completion of the sale, the director directly owned 22,698 shares in the company, valued at approximately $3,490,725.42. The trade was a 22.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Greco sold 14,245 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares in the company, valued at approximately $3,289,880.88. This represents a 40.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 165,539 shares of company stock worth $25,364,406 over the last ninety days. Insiders own 1.32% of the company’s stock.

Tapestry Company 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.