Mediolanum International Funds Ltd Makes New Investment in Tapestry, Inc. $TPR

Mediolanum International Funds Ltd acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 249,152 shares of the luxury accessories retailer’s stock, valued at approximately $21,704,000. Mediolanum International Funds Ltd owned 0.12% of Tapestry as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nuveen LLC bought a new stake in Tapestry in the first quarter valued at $59,133,000. AQR Capital Management LLC increased its holdings in shares of Tapestry by 47.4% during the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after acquiring an additional 838,057 shares in the last quarter. Aviva PLC bought a new position in shares of Tapestry in the 2nd quarter worth $67,612,000. Samlyn Capital LLC grew its position in Tapestry by 50.2% in the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after purchasing an additional 658,889 shares during the period. Finally, Vanguard Group Inc. increased its stake in Tapestry by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after purchasing an additional 606,686 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In other news, CEO Todd Kahn sold 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.83, for a total value of $2,982,070.00. Following the sale, the chief executive officer owned 86,736 shares of the company’s stock, valued at $8,919,062.88. The trade was a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the sale, the insider owned 55,354 shares in the company, valued at $5,673,785. The trade was a 31.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,231 shares of company stock worth $7,530,325 over the last 90 days. 1.32% of the stock is owned by insiders.

Tapestry Stock Performance

Shares of TPR stock opened at $102.23 on Friday. Tapestry, Inc. has a 52 week low of $54.98 and a 52 week high of $118.56. The firm’s 50-day simple moving average is $110.64 and its two-hundred day simple moving average is $99.28. The firm has a market cap of $20.92 billion, a price-to-earnings ratio of 162.26, a P/E/G 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 (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business posted $0.84 EPS. Tapestry’s quarterly revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its board has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Tapestry Announces Dividend

The company also recently declared 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 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio is currently 142.86%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TPR shares. JPMorgan Chase & Co. increased their price objective on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI raised their price target on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Bank of America downgraded shares of Tapestry from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Jefferies Financial Group lifted their target price on shares of Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company reduced their target price on Tapestry from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average price target of $119.26.

About Tapestry

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.