NEOS Investment Management LLC Acquires 10,504 Shares of Tapestry, Inc. $TPR

NEOS Investment Management LLC raised its stake in Tapestry, Inc. (NYSE:TPR) by 60.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 27,744 shares of the luxury accessories retailer’s stock after acquiring an additional 10,504 shares during the quarter. NEOS Investment Management LLC’s holdings in Tapestry were worth $3,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPR. Cloud Capital Management LLC bought a new position in Tapestry in the 3rd quarter valued at about $26,000. Vestor Capital LLC bought a new position in shares of Tapestry in the second quarter valued at approximately $27,000. CVA Family Office LLC boosted its position in shares of Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after buying an additional 263 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Tapestry during the second quarter worth $39,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Tapestry in the 2nd quarter valued at $45,000. 90.77% of the stock is owned by institutional investors.

Insider Activity at Tapestry

In related news, CEO Todd Kahn sold 39,815 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the sale, the chief executive officer owned 120,578 shares of the company’s stock, valued at approximately $18,248,274.52. This represents a 24.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Greco sold 14,245 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the completion of the sale, the director owned 21,302 shares in the company, valued at $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 175,883 shares of company stock valued at $26,471,214 in the last quarter. 1.32% of the stock is currently owned by company insiders.

Tapestry Stock Down 1.8%

TPR stock opened at $152.25 on Friday. The company has a market capitalization of $30.82 billion, a price-to-earnings ratio of 62.91, a PEG ratio of 1.90 and a beta of 1.63. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $158.28. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The stock has a fifty day moving average of $134.25 and a 200-day moving average of $117.75.

Tapestry (NYSE:TPR) last issued its 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. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The firm’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

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

Tapestry Dividend Announcement

The company 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is currently 66.12%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Tapestry in a research report on Friday, February 6th. BNP Paribas Exane started coverage on shares of Tapestry in a research note on Friday, February 13th. They issued an “outperform” rating and a $176.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.