Tapestry, Inc. $TPR Position Trimmed by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 63.9% during the third quarter, Holdings Channel.com reports. The firm owned 7,663 shares of the luxury accessories retailer’s stock after selling 13,561 shares during the period. QRG Capital Management Inc.’s holdings in Tapestry were worth $868,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Woodline Partners LP increased its stake in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after buying an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Tapestry during the 1st quarter valued at $493,000. Sivia Capital Partners LLC acquired a new position in shares of Tapestry in the second quarter worth $602,000. UMB Bank n.a. increased its stake in shares of Tapestry by 91.2% in the second quarter. UMB Bank n.a. now owns 2,449 shares of the luxury accessories retailer’s stock worth $215,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Park Avenue Securities LLC raised its holdings in shares of Tapestry by 9.1% during the second quarter. Park Avenue Securities LLC now owns 6,399 shares of the luxury accessories retailer’s stock worth $562,000 after acquiring an additional 536 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on TPR shares. BTIG Research started coverage on Tapestry in a research note on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Wells Fargo & Company raised their price objective on shares of Tapestry from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Barclays lifted their target price on shares of Tapestry from $154.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. Finally, Citigroup increased their price target on shares of Tapestry from $124.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $129.11.

Tapestry Trading Up 2.4%

Tapestry stock opened at $132.21 on Thursday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $136.04. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The firm has a market capitalization of $27.06 billion, a PE ratio of 118.04, a PEG ratio of 2.65 and a beta of 1.63. The business’s 50-day simple moving average is $121.16 and its 200-day simple moving average is $112.33.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.13. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s payout ratio is 142.86%.

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

Insider Activity

In other news, insider David E. Howard sold 25,029 shares of the company’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 completion of the transaction, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. This represents a 31.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the sale, the chief executive officer directly owned 667,233 shares in the company, valued at approximately $70,266,307.23. This trade represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

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.