Oppenheimer Asset Management Inc. Has $6.34 Million Stock Holdings in Tapestry, Inc. $TPR

Oppenheimer Asset Management Inc. decreased its stake in Tapestry, Inc. (NYSE:TPR) by 27.1% in the third quarter, HoldingsChannel reports. The firm owned 55,991 shares of the luxury accessories retailer’s stock after selling 20,860 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Tapestry were worth $6,339,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Woodline Partners LP lifted its position in shares of 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 acquiring an additional 3,495 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Tapestry during the 1st quarter valued at $493,000. Sivia Capital Partners LLC acquired a new stake in Tapestry during the 2nd quarter valued at $602,000. Ameritas Advisory Services LLC purchased a new stake in shares of Tapestry in the second quarter valued at $37,000. Finally, Blair William & Co. IL acquired a new stake in shares of Tapestry in the second quarter worth $412,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. The Goldman Sachs Group set a $166.00 target price on Tapestry in a research note on Friday. Telsey Advisory Group lifted their target price on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. TD Cowen restated a “buy” rating on shares of Tapestry in a report on Tuesday. Finally, Barclays set a $179.00 price objective on Tapestry and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Tapestry Stock Performance

Shares of TPR opened at $152.88 on Wednesday. The firm has a market cap of $30.95 billion, a price-to-earnings ratio of 63.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.63. The company’s fifty day moving average is $129.14 and its 200-day moving average is $115.64. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $157.00.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company posted $2.00 earnings per share. Tapestry’s revenue for the quarter was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is presently 66.12%.

Tapestry declared that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Tapestry

In other news, insider David E. Howard sold 25,029 shares of Tapestry stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the transaction, the insider owned 55,354 shares of the company’s stock, valued at $5,673,785. This trade represents a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction on Friday, November 21st. The stock was 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 of the company’s stock, valued at $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is currently owned by company 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.