Quantbot Technologies LP Lowers Stock Holdings in Tapestry, Inc. $TPR

Quantbot Technologies LP cut its holdings in Tapestry, Inc. (NYSE:TPR) by 49.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,336 shares of the luxury accessories retailer’s stock after selling 30,075 shares during the quarter. Quantbot Technologies LP’s holdings in Tapestry were worth $2,664,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TPR. Harbour Investments Inc. lifted 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 in the last quarter. Flaharty Asset Management LLC purchased a new position in Tapestry during the first quarter valued at $25,000. First PREMIER Bank acquired a new stake in shares of Tapestry in the second quarter valued at about $25,000. Vestor Capital LLC acquired a new stake in shares of Tapestry in the second quarter valued at about $27,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Tapestry during the first quarter worth about $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Todd Kahn sold 29,000 shares of the 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 completion of the sale, the chief executive officer owned 86,736 shares of the company’s stock, valued at $8,919,062.88. This represents a 25.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’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 transaction of $1,202,070.80. Following the sale, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 126,805 shares of company stock worth $13,236,129 over the last ninety days. 1.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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 note on Monday, November 3rd. Robert W. Baird set a $130.00 target price on Tapestry in a research report on Wednesday, October 29th. Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Morgan Stanley increased their price objective on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, 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 target price on the stock. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.26.

Tapestry Stock Performance

Shares of Tapestry stock opened at $116.15 on Friday. The business’s 50 day moving average price is $110.43 and its 200 day moving average price is $101.64. The company has a market cap of $23.77 billion, a price-to-earnings ratio of 103.71, a PEG ratio of 2.35 and a beta of 1.65. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. Tapestry, Inc. has a one year low of $58.39 and a one year high of $118.56.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.84 EPS. The company’s revenue for the quarter 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, research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.4%. Tapestry’s payout ratio is 142.86%.

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.