iA Global Asset Management Inc. Grows Holdings in Tapestry, Inc. $TPR

iA Global Asset Management Inc. grew its position in Tapestry, Inc. (NYSE:TPR) by 87.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,484 shares of the luxury accessories retailer’s stock after acquiring an additional 16,995 shares during the period. iA Global Asset Management Inc.’s holdings in Tapestry were worth $4,131,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after purchasing an additional 606,686 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 purchasing an additional 158,782 shares during the period. SRS Investment Management LLC grew 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 valued at $468,275,000 after purchasing an additional 589,000 shares during the period. Schroder Investment Management Group increased its position in shares of Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after buying an additional 3,775,593 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Tapestry by 36.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock worth $311,388,000 after buying an additional 939,227 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of Tapestry 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 transaction, the insider directly owned 19,285 shares of the company’s stock, valued at $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the transaction, the chief executive officer owned 667,233 shares in the company, valued at $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 115,485 shares of company stock valued at $12,034,058 in the last quarter. Insiders own 1.32% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $129.97 on Friday. Tapestry, Inc. has a one year low of $58.39 and a one year high of $136.04. The stock has a market cap of $26.60 billion, a PE ratio of 116.04, a P/E/G ratio of 2.24 and a beta of 1.63. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The stock has a 50 day moving average price of $122.31 and a 200 day moving average price of $112.71.

Tapestry (NYSE:TPR) last issued its 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. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business earned $0.84 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its board has initiated a stock repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to buy up to 4.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Tapestry Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TPR shares. Citigroup lifted their price target on shares of Tapestry from $124.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Tapestry in a report on Tuesday, January 6th. Jefferies Financial Group cut 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 note on Wednesday, January 14th. The Goldman Sachs Group upped their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Evercore ISI raised their price target on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $129.11.

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.