Tapestry, Inc. $TPR Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 57.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 67,182 shares of the luxury accessories retailer’s stock after buying an additional 24,576 shares during the quarter. Public Sector Pension Investment Board’s holdings in Tapestry were worth $7,606,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in Tapestry during the third quarter valued at about $26,000. Vestor Capital LLC acquired a new position in shares of Tapestry in the 2nd quarter valued at about $27,000. CVA Family Office LLC lifted its stake 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 in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Tapestry during the 2nd quarter worth about $39,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Tapestry during the 2nd quarter worth approximately $45,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPR has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Telsey Advisory Group lifted their target price on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Morgan Stanley upped their price target on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. The Goldman Sachs Group set a $166.00 price objective on Tapestry in a research report on Friday, February 6th. Finally, BTIG Research upped their target price on Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Tapestry Stock Performance

NYSE:TPR opened at $153.74 on Wednesday. The firm has a 50-day moving average of $132.93 and a two-hundred day moving average of $117.25. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. The stock has a market cap of $31.13 billion, a P/E ratio of 63.53, a PEG ratio of 1.89 and a beta of 1.63. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $158.28.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 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 company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio is 66.12%.

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

Insider Buying and Selling at Tapestry

In related news, VP Manesh Dadlani sold 2,147 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total value of $329,500.09. Following the sale, the vice president directly owned 18,475 shares of the company’s stock, valued at $2,835,358.25. This represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise Kulikowsky sold 9,166 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the transaction, the insider owned 26,942 shares in the company, valued at $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 163,372 shares of company stock valued at $22,026,898. Corporate insiders own 1.32% of the company’s stock.

Tapestry 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.