Westfield Capital Management Co. LP Cuts Stake in Tapestry, Inc. $TPR

Westfield Capital Management Co. LP cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 28.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,450,671 shares of the luxury accessories retailer’s stock after selling 968,574 shares during the period. Tapestry accounts for approximately 1.2% of Westfield Capital Management Co. LP’s investment portfolio, making the stock its 15th biggest holding. Westfield Capital Management Co. LP owned about 1.20% of Tapestry worth $277,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in Tapestry by 18.1% in the third quarter. US Bancorp DE now owns 18,920 shares of the luxury accessories retailer’s stock valued at $2,142,000 after buying an additional 2,906 shares during the last quarter. Waddell & Associates LLC boosted its stake in Tapestry by 41.3% in the 3rd quarter. Waddell & Associates LLC now owns 4,567 shares of the luxury accessories retailer’s stock worth $517,000 after purchasing an additional 1,334 shares in the last quarter. TD Asset Management Inc grew its position in Tapestry by 14.1% during the 3rd quarter. TD Asset Management Inc now owns 103,480 shares of the luxury accessories retailer’s stock worth $11,716,000 after purchasing an additional 12,825 shares during the last quarter. Counterpoint Mutual Funds LLC increased its stake in Tapestry by 420.8% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 24,233 shares of the luxury accessories retailer’s stock valued at $2,744,000 after purchasing an additional 19,580 shares in the last quarter. Finally, Mufg Securities Americas Inc. lifted its stake in shares of Tapestry by 21.9% during the third quarter. Mufg Securities Americas Inc. now owns 5,613 shares of the luxury accessories retailer’s stock worth $636,000 after buying an additional 1,010 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Stock Performance

Shares of NYSE TPR opened at $156.89 on Thursday. The company has a market capitalization of $31.76 billion, a PE ratio of 64.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.63. 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 company’s fifty day moving average price is $136.84 and its 200 day moving average price is $119.06. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $158.28.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm posted $2.00 earnings per share. 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. On average, research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

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

Tapestry Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend 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%.

Insiders Place Their Bets

In related news, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total value of $1,426,412.92. Following the sale, the insider owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne Gates sold 6,498 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total transaction of $999,327.42. Following the completion of the sale, the director directly owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. The trade was a 22.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 165,539 shares of company stock valued at $25,364,406. 1.32% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TPR shares. Barclays set a $179.00 price target on Tapestry and gave the stock an “overweight” rating in a research report on Friday, February 6th. UBS Group reaffirmed a “neutral” rating and set a $141.00 target price on shares of Tapestry in a report on Monday, February 9th. Guggenheim began coverage on Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and reduced their price target for the stock from $142.00 to $138.00 in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group set a $166.00 price objective on shares of Tapestry in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.