Calydon Capital Sells 89,033 Shares of Tapestry, Inc. $TPR

Calydon Capital reduced its position in Tapestry, Inc. (NYSE:TPR) by 91.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,829 shares of the luxury accessories retailer’s stock after selling 89,033 shares during the quarter. Calydon Capital’s holdings in Tapestry were worth $886,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Tapestry by 2.4% during the 2nd 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 last quarter. Geode Capital Management LLC raised its stake in Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after buying an additional 158,782 shares during the last quarter. SRS Investment Management LLC boosted its holdings in Tapestry by 12.4% in the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after acquiring an additional 589,000 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Tapestry by 21.1% in the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after acquiring an additional 846,553 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Tapestry by 21.4% in the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after acquiring an additional 760,646 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPR has been the topic of several recent analyst reports. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They set an “outperform” rating and a $176.00 price objective on the stock. Telsey Advisory Group boosted their target price on shares of Tapestry to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Wells Fargo & Company boosted their target price on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Tapestry in a report on Friday, February 6th. Finally, Zacks Research upgraded shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Two investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.06.

Insiders Place Their Bets

In related news, insider Denise Kulikowsky sold 9,166 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total value of $1,426,412.92. Following the transaction, the insider directly owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total value of $329,500.09. Following the completion of the sale, the vice president owned 18,475 shares in the company, valued at approximately $2,835,358.25. The trade was a 10.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 164,956 shares of company stock valued at $25,297,262. 1.32% of the stock is owned by company insiders.

Tapestry Trading Down 0.4%

Shares of NYSE:TPR opened at $142.12 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $161.97. The business has a 50 day moving average of $141.96 and a two-hundred day moving average of $123.09. The company has a market capitalization of $28.77 billion, a PE ratio of 58.73, a PEG ratio of 1.70 and a beta of 1.55.

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

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a $0.40 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is 66.12%.

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.