HighTower Advisors LLC Sells 17,545 Shares of Tapestry, Inc. $TPR

HighTower Advisors LLC trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 39.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,892 shares of the luxury accessories retailer’s stock after selling 17,545 shares during the period. HighTower Advisors LLC’s holdings in Tapestry were worth $3,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in TPR. Cloud Capital Management LLC bought a new position in shares of Tapestry during the third quarter valued at approximately $26,000. Vestor Capital LLC bought a new stake in Tapestry during the 2nd quarter valued at $27,000. Johnson Financial Group Inc. bought a new stake in Tapestry during the 2nd quarter valued at $39,000. Elevation Point Wealth Partners LLC bought a new position in shares of Tapestry in the 2nd quarter worth $45,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Tapestry in the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE TPR opened at $160.50 on Friday. The company has a market cap of $32.50 billion, a price-to-earnings ratio of 66.32, a PEG ratio of 1.88 and a beta of 1.63. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. The stock’s fifty day moving average price is $137.54 and its 200 day moving average price is $119.34. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $161.97.

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

Tapestry announced that its board has initiated a share buyback 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 reacquire up to 4.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio is 66.12%.

Insider Transactions at Tapestry

In related news, VP Manesh Dadlani sold 2,147 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total transaction of $329,500.09. Following the sale, the vice president directly owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. This represents a 10.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 165,539 shares of company stock valued at $25,364,406. 1.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TPR. JPMorgan Chase & Co. raised their price objective on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. BNP Paribas Exane initiated coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 price target on the stock. Citigroup boosted their price objective on shares of Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Telsey Advisory Group raised their target price on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

About Tapestry

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.