Verdence Capital Advisors LLC Buys 9,055 Shares of Tapestry, Inc. $TPR

Verdence Capital Advisors LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 68.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,300 shares of the luxury accessories retailer’s stock after purchasing an additional 9,055 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Tapestry were worth $2,564,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Woodline Partners LP raised its holdings in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after acquiring an additional 3,495 shares during the period. Acadian Asset Management LLC bought a new position in shares of Tapestry in the first quarter worth about $493,000. Sivia Capital Partners LLC acquired a new position in shares of Tapestry during the 2nd quarter worth about $602,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Tapestry by 10.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,414 shares of the luxury accessories retailer’s stock valued at $475,000 after purchasing an additional 494 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Tapestry by 15.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 108,533 shares of the luxury accessories retailer’s stock valued at $9,790,000 after buying an additional 14,328 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Stock Down 1.6%

NYSE TPR opened at $130.89 on Tuesday. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $136.04. The company has a market capitalization of $26.79 billion, a price-to-earnings ratio of 116.86, a PEG ratio of 2.69 and a beta of 1.63. The stock’s 50 day moving average is $120.05 and its two-hundred day moving average is $111.92. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company earned $0.84 EPS. Tapestry’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, December 5th. Tapestry’s payout ratio is currently 142.86%.

Tapestry declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in 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 generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

TPR has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Raymond James Financial upped their price objective on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Wells Fargo & Company lifted their target price on Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and cut their price target for the company from $142.00 to $138.00 in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.05.

Insiders Place Their Bets

In related news, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the sale, the chief executive officer owned 667,233 shares in the company, valued at $70,266,307.23. This trade represents a 4.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Todd Kahn sold 10,344 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $107.00, for a total transaction of $1,106,808.00. Following the completion of the transaction, the chief executive officer owned 131,815 shares in the company, valued at approximately $14,104,205. This trade represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 115,485 shares of company stock worth $12,034,058 in the last quarter. 1.32% of the stock is owned by corporate insiders.

Tapestry Profile

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.