Tapestry, Inc. $TPR is Capricorn Fund Managers Ltd’s 6th Largest Position

Capricorn Fund Managers Ltd decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 95,000 shares of the luxury accessories retailer’s stock after selling 20,000 shares during the quarter. Tapestry accounts for approximately 3.9% of Capricorn Fund Managers Ltd’s holdings, making the stock its 6th biggest position. Capricorn Fund Managers Ltd’s holdings in Tapestry were worth $8,342,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First PREMIER Bank bought a new stake in shares of Tapestry during the 2nd quarter valued at about $25,000. Flaharty Asset Management LLC bought a new stake in shares of Tapestry during the 1st quarter valued at about $25,000. Harbour Investments Inc. grew its stake in shares of Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tapestry during the 1st quarter valued at about $29,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Tapestry during the 2nd quarter valued at about $37,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Trading Down 0.6%

Shares of NYSE:TPR opened at $114.91 on Friday. The stock has a 50 day moving average of $107.09 and a 200 day moving average of $89.22. The company has a market cap of $23.79 billion, a PE ratio of 182.40, a price-to-earnings-growth ratio of 2.79 and a beta of 1.57. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $117.77.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.92 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Investors of record on Friday, September 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. This is a boost from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s payout ratio is presently 253.97%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

TPR has been the subject of a number of recent research reports. TD Cowen upgraded Tapestry from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Thursday, June 12th. Raymond James Financial restated an “outperform” rating and set a $115.00 price target (up from $85.00) on shares of Tapestry in a research note on Tuesday, July 22nd. Bank of America downgraded Tapestry from a “buy” rating to a “neutral” rating and boosted their price target for the company from $95.00 to $115.00 in a research note on Tuesday, July 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $112.00 price objective on shares of Tapestry in a research note on Friday, August 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Saturday, September 27th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $106.47.

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.