Police & Firemen s Retirement System of New Jersey Lowers Stake in Tapestry, Inc. $TPR

Police & Firemen s Retirement System of New Jersey trimmed its holdings in Tapestry, Inc. (NYSE:TPR) by 6.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 78,757 shares of the luxury accessories retailer’s stock after selling 5,856 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Tapestry were worth $6,916,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TPR. 1858 Wealth Management LLC raised its stake in Tapestry by 2.5% during the 2nd quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock valued at $337,000 after acquiring an additional 95 shares during the last quarter. Convergence Financial LLC grew its stake in shares of Tapestry by 3.0% in the 2nd 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 during the last quarter. Earned Wealth Advisors LLC increased its holdings in shares of Tapestry by 1.6% in the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after purchasing an additional 116 shares during the period. Zions Bancorporation National Association UT raised its stake in shares of Tapestry by 9.3% during the second quarter. Zions Bancorporation National Association UT now owns 2,029 shares of the luxury accessories retailer’s stock worth $178,000 after purchasing an additional 172 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Tapestry by 120.1% during the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms recently weighed in on TPR. The Goldman Sachs Group lifted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 6th. BTIG Research started coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. 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. Finally, Wells Fargo & Company dropped their target price on Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.25.

Tapestry Price Performance

TPR stock opened at $101.34 on Friday. The firm has a 50 day moving average of $110.85 and a 200-day moving average of $98.40. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 160.85, a PEG ratio of 2.72 and a beta of 1.71. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 12-month low of $54.98 and a 12-month high of $118.56.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm 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%.Tapestry’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry declared that its board has authorized a share buyback 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 repurchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Tapestry Dividend Announcement

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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio is presently 142.86%.

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.