Tabor Asset Management LP Sells 16,016 Shares of Tapestry, Inc. $TPR

Tabor Asset Management LP decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 24.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 49,139 shares of the luxury accessories retailer’s stock after selling 16,016 shares during the period. Tapestry comprises approximately 2.9% of Tabor Asset Management LP’s holdings, making the stock its 15th largest position. Tabor Asset Management LP’s holdings in Tapestry were worth $4,315,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TPR. Wedbush Securities Inc. raised its holdings in shares of Tapestry by 3.4% in the 2nd quarter. Wedbush Securities Inc. now owns 10,152 shares of the luxury accessories retailer’s stock worth $891,000 after acquiring an additional 334 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Tapestry by 5.3% during the 2nd quarter. Sterling Capital Management LLC now owns 105,416 shares of the luxury accessories retailer’s stock valued at $9,257,000 after purchasing an additional 5,278 shares during the last quarter. Savant Capital LLC increased its holdings in Tapestry by 46.5% during the 2nd quarter. Savant Capital LLC now owns 29,391 shares of the luxury accessories retailer’s stock worth $2,581,000 after purchasing an additional 9,326 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of Tapestry by 15.5% in the second quarter. Resona Asset Management Co. Ltd. now owns 2,219 shares of the luxury accessories retailer’s stock worth $193,000 after purchasing an additional 297 shares during the last quarter. Finally, Convergence Financial LLC lifted its holdings in shares of Tapestry by 3.0% in the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Performance

Shares of TPR stock opened at $103.67 on Friday. Tapestry, Inc. has a 52 week low of $49.84 and a 52 week high of $118.56. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The firm’s 50-day simple moving average is $110.95 and its two-hundred day simple moving average is $97.17. The firm has a market cap of $21.46 billion, a price-to-earnings ratio of 164.55, a P/E/G ratio of 2.72 and a beta of 1.71.

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, topping analysts’ consensus estimates of $1.25 by $0.13. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

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

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 253.97%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TPR. Jefferies Financial Group upped their price target on Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Wells Fargo & Company reduced their target price on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday. Barclays increased their target price on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Robert W. Baird set a $130.00 price target on shares of Tapestry in a report on Wednesday, October 29th. Finally, UBS Group reduced their price objective on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $116.25.

Tapestry Profile

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.