Tapestry, Inc. $TPR Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lowered its holdings in Tapestry, Inc. (NYSE:TPR) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,419,245 shares of the luxury accessories retailer’s stock after selling 182,069 shares during the period. Tapestry accounts for 1.3% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 16th biggest position. Westfield Capital Management Co. LP’s holdings in Tapestry were worth $300,244,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Harbour Investments Inc. boosted its stake in 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 buying an additional 197 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Tapestry during the 1st quarter worth about $25,000. First PREMIER Bank acquired a new stake in shares of Tapestry in the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Tapestry in the first quarter valued at approximately $29,000. Finally, CVA Family Office LLC grew its holdings in Tapestry by 224.8% in the second 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tapestry news, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the transaction, the insider directly owned 55,354 shares of the company’s stock, valued at $5,673,785. This represents a 31.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 73,231 shares of company stock worth $7,530,325. 1.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BTIG Research initiated coverage on shares of Tapestry in a research note on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Raymond James Financial lifted their target price on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Jefferies Financial Group raised their price objective on Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Wells Fargo & Company dropped their target price on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Finally, Sanford C. Bernstein lifted their price target on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.26.

Tapestry Stock Performance

Shares of NYSE:TPR opened at $104.46 on Thursday. The business’s 50-day simple moving average is $110.74 and its 200 day simple moving average is $99.26. The company has a market cap of $21.38 billion, a P/E ratio of 165.81, a PEG ratio of 2.72 and a beta of 1.71. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. Tapestry, Inc. has a one year low of $54.98 and a one year high of $118.56.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $0.84 EPS. The business’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. On average, sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s payout ratio is presently 142.86%.

Tapestry 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.