Sumitomo Mitsui DS Asset Management Company Ltd Purchases 22,833 Shares of Tapestry, Inc. $TPR

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Tapestry, Inc. (NYSE:TPR) by 421.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,247 shares of the luxury accessories retailer’s stock after purchasing an additional 22,833 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tapestry were worth $3,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 1858 Wealth Management LLC grew its position in Tapestry by 2.5% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after purchasing an additional 95 shares in the last quarter. Convergence Financial LLC boosted 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 worth $297,000 after buying an additional 98 shares during the last quarter. Earned Wealth Advisors LLC grew 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 acquiring an additional 116 shares in the last quarter. Blue Trust Inc. increased its position in shares of Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after acquiring an additional 122 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in Tapestry by 3.3% during the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock worth $502,000 after acquiring an additional 139 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BTIG Research initiated coverage on Tapestry in a research note on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price objective for the company. UBS Group increased their price target on shares of Tapestry from $105.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday. Guggenheim began coverage on shares of Tapestry in a report on Tuesday, December 9th. They set a “neutral” rating for the company. Raymond James Financial boosted their target price on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company increased their target price on shares of Tapestry from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.26.

Insider Transactions at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Scott A. Roe sold 18,794 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $104.85, for a total value of $1,970,550.90. Following the sale, the chief financial officer owned 148,149 shares in the company, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is currently owned by company insiders.

Tapestry Price Performance

NYSE TPR opened at $133.75 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. The company has a market cap of $27.37 billion, a PE ratio of 119.42, a price-to-earnings-growth ratio of 2.76 and a beta of 1.63. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $136.04. The firm’s 50-day simple moving average is $117.29 and its two-hundred day simple moving average is $110.35.

Tapestry (NYSE:TPR) last posted its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Tapestry’s dividend payout ratio is currently 142.86%.

Tapestry declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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.