Sumitomo Mitsui Trust Group Inc. Has $49.12 Million Position in Tapestry, Inc. $TPR

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Tapestry, Inc. (NYSE:TPR) by 907.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 433,817 shares of the luxury accessories retailer’s stock after buying an additional 390,741 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Tapestry worth $49,117,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TPR. First PREMIER Bank acquired a new stake in Tapestry during the 2nd quarter worth about $25,000. Vestor Capital LLC purchased a new stake in shares of Tapestry in the second quarter worth approximately $27,000. CVA Family Office LLC boosted its holdings 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 worth $33,000 after purchasing an additional 263 shares during the period. Ameritas Advisory Services LLC purchased a new position in Tapestry during the second quarter valued at approximately $37,000. Finally, Johnson Financial Group Inc. purchased a new position in Tapestry during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $133.13 on Friday. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $136.04. The stock’s 50-day moving average is $119.01 and its two-hundred day moving average is $110.99. The firm has a market cap of $27.25 billion, a P/E ratio of 118.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.63. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93.

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

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were paid a $0.40 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s dividend payout ratio (DPR) is presently 142.86%.

Insider Transactions at Tapestry

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $115.17, for a total transaction of $67,144.11. Following the completion of the sale, the insider directly owned 19,285 shares in the company, valued at $2,221,053.45. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This represents a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and cut their target price for the stock from $142.00 to $138.00 in a research report on Wednesday. BTIG Research began coverage on Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price objective for the company. The Goldman Sachs Group boosted their target price on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Finally, Barclays lifted their price target on Tapestry from $154.00 to $155.00 and gave the company an “overweight” rating in a report on Monday. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.05.

Tapestry Company 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.