Jupiter Asset Management Ltd. Buys Shares of 258,909 Tapestry, Inc. $TPR

Jupiter Asset Management Ltd. acquired a new stake in Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 258,909 shares of the luxury accessories retailer’s stock, valued at approximately $29,314,000. Jupiter Asset Management Ltd. owned about 0.13% of Tapestry as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after buying an additional 606,686 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Tapestry by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after acquiring an additional 158,782 shares during the last quarter. SRS Investment Management LLC boosted its position in shares of Tapestry by 12.4% during the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after purchasing an additional 589,000 shares during the period. Schroder Investment Management Group increased its holdings in Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Tapestry by 36.0% in the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after purchasing an additional 939,227 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the sale, the chief executive officer directly owned 671,193 shares in the company, valued at $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Greco sold 14,245 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the sale, the director directly owned 21,302 shares in the company, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 175,883 shares of company stock worth $26,471,214. 1.32% of the stock is owned by company insiders.

Tapestry Trading Down 1.8%

NYSE:TPR opened at $152.25 on Friday. The company has a market capitalization of $30.82 billion, a PE ratio of 62.91, a P/E/G ratio of 1.90 and a beta of 1.63. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $158.28. The stock’s 50 day moving average price is $134.25 and its 200 day moving average price is $117.75. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business posted $2.00 earnings per share. Tapestry’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry declared that its board has authorized a stock buyback plan on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, March 6th. Tapestry’s payout ratio is presently 66.12%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore lifted their target price on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Argus upgraded shares of Tapestry to a “strong-buy” rating in a report on Friday, January 16th. UBS Group reiterated a “neutral” rating and set a $141.00 target price on shares of Tapestry in a report on Monday, February 9th. Sanford C. Bernstein restated an “outperform” rating and issued a $170.00 price target on shares of Tapestry in a research note on Friday, February 6th. Finally, Telsey Advisory Group upped their price objective on Tapestry to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.