Mitsubishi UFJ Asset Management Co. Ltd. Purchases 187,432 Shares of Tapestry, Inc. $TPR

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Tapestry, Inc. (NYSE:TPR) by 85.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 407,871 shares of the luxury accessories retailer’s stock after buying an additional 187,432 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Tapestry were worth $46,179,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Woodline Partners LP increased its position in shares of Tapestry by 25.0% in the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Tapestry during the 1st quarter valued at about $493,000. Sivia Capital Partners LLC bought a new position in shares of Tapestry in the second quarter worth approximately $602,000. Envestnet Asset Management Inc. grew its holdings in Tapestry by 35.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 401,828 shares of the luxury accessories retailer’s stock worth $35,285,000 after acquiring an additional 104,364 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of Tapestry by 146.2% in the second quarter. Bessemer Group Inc. now owns 7,328 shares of the luxury accessories retailer’s stock worth $643,000 after purchasing an additional 4,352 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In related news, Director Thomas Greco sold 14,245 shares of the business’s 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 owned 21,302 shares in the company, valued at approximately $3,289,880.88. The trade was a 40.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Kahn sold 39,815 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the sale, the chief executive officer directly owned 120,578 shares in the company, valued at approximately $18,248,274.52. The trade was a 24.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 165,539 shares of company stock valued at $25,364,406 in the last 90 days. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 3.3%

Tapestry stock opened at $155.16 on Friday. The stock has a market cap of $31.41 billion, a P/E ratio of 64.11, a PEG ratio of 1.86 and a beta of 1.63. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $161.97. 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 firm’s 50 day moving average price is $138.14 and its 200-day moving average price is $119.73.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the firm earned $2.00 EPS. The business’s 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, equities analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Tapestry Announces Dividend

The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio is currently 66.12%.

Analyst Upgrades and Downgrades

TPR has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and decreased their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. Barclays set a $179.00 price target on shares of Tapestry and gave the stock an “overweight” rating in a research note on Friday, February 6th. BTIG Research increased their target price on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Citigroup raised their price target on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

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.