Tapestry, Inc. $TPR Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,967 shares of the luxury accessories retailer’s stock after purchasing an additional 5,743 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Tapestry were worth $4,468,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TPR. Massachusetts Financial Services Co. MA lifted its stake in shares of Tapestry by 250.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after purchasing an additional 1,750,566 shares in the last quarter. State Street Corp lifted its stake in shares of Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after purchasing an additional 1,494,193 shares in the last quarter. Voloridge Investment Management LLC lifted its stake in shares of Tapestry by 160.5% during the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock worth $213,592,000 after purchasing an additional 1,162,442 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Tapestry by 426.8% during the third quarter. Two Sigma Investments LP now owns 1,122,520 shares of the luxury accessories retailer’s stock worth $127,092,000 after purchasing an additional 909,433 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Tapestry by 191.9% during the third quarter. Barclays PLC now owns 1,297,394 shares of the luxury accessories retailer’s stock worth $146,891,000 after purchasing an additional 852,908 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Tapestry news, CFO Scott A. Roe sold 44,290 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total transaction of $6,759,539.80. Following the sale, the chief financial officer owned 139,128 shares in the company, valued at $21,233,715.36. This represents a 24.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas Greco sold 14,245 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the sale, the director owned 21,302 shares in the company, valued at $3,289,880.88. The trade was a 40.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 164,956 shares of company stock valued at $25,297,262. Insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TPR shares. UBS Group restated a “neutral” rating and set a $141.00 price objective on shares of Tapestry in a research note on Monday, February 9th. Sanford C. Bernstein restated an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research note on Friday, February 6th. Wells Fargo & Company boosted their price objective on Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and cut their price target for the stock from $142.00 to $138.00 in a research note on Wednesday, January 14th. Finally, BTIG Research boosted their price target on Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $151.06.

Tapestry Trading Down 2.0%

NYSE:TPR opened at $150.55 on Wednesday. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. Tapestry, Inc. has a one year low of $63.35 and a one year high of $161.97. The business’s 50-day simple moving average is $148.51 and its 200 day simple moving average is $130.23. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 62.21, a price-to-earnings-growth ratio of 1.84 and a beta of 1.59.

Tapestry (NYSE:TPR) last released its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm posted $2.00 earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 6.45 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 6th were paid a $0.40 dividend. The ex-dividend date was Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s payout ratio is 66.12%.

About Tapestry

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.