Tapestry, Inc. $TPR Stock Position Lifted by CenterBook Partners LP

CenterBook Partners LP lifted its position in Tapestry, Inc. (NYSE:TPR) by 184.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,368 shares of the luxury accessories retailer’s stock after acquiring an additional 19,050 shares during the quarter. CenterBook Partners LP’s holdings in Tapestry were worth $2,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TPR. First PREMIER Bank acquired a new position in Tapestry in the second quarter worth $25,000. Flaharty Asset Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at about $25,000. Harbour Investments Inc. grew its position 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 buying an additional 197 shares during the last quarter. CVA Family Office LLC grew its position in shares of Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after buying an additional 263 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Tapestry during the first quarter worth about $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tapestry

In other Tapestry news, Director Alan Ka Ming Lau sold 11,320 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the sale, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David E. Howard sold 25,029 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. This trade represents a 31.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 73,231 shares of company stock worth $7,530,325. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of several recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 target price on shares of Tapestry in a report on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Evercore ISI increased their target price on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Barclays boosted their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Finally, Bank of America lowered shares of Tapestry from a “buy” rating to a “neutral” rating and upped their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $119.26.

Tapestry Stock Performance

Shares of TPR opened at $105.14 on Friday. The firm has a market capitalization of $21.52 billion, a PE ratio of 166.89, a P/E/G ratio of 2.72 and a beta of 1.71. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The firm has a 50-day moving average price of $110.62 and a 200 day moving average price of $99.69. Tapestry, Inc. has a 52-week low of $57.84 and a 52-week high of $118.56.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping 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 company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the business posted $0.84 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its board has approved a stock repurchase plan on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be paid a $0.40 dividend. 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 currently 142.86%.

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.