Quantbot Technologies LP Sells 13,312 Shares of Tapestry, Inc. $TPR

Quantbot Technologies LP decreased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 43.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 17,024 shares of the luxury accessories retailer’s stock after selling 13,312 shares during the period. Quantbot Technologies LP’s holdings in Tapestry were worth $1,927,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Tapestry by 2.4% in the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after acquiring an additional 606,686 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 158,782 shares in the last quarter. SRS Investment Management LLC boosted its holdings in Tapestry by 12.4% in the 2nd 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 grew its position in shares of Tapestry by 1,661.6% during 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 in the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of 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 worth $311,388,000 after purchasing an additional 939,227 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of Tapestry stock opened at $157.08 on Thursday. The business’s 50 day simple moving average is $139.73 and its two-hundred day simple moving average is $120.83. Tapestry, Inc. has a one year low of $58.39 and a one 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 stock has a market capitalization of $31.80 billion, a P/E ratio of 64.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.55.

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

Tapestry Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be issued 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%.

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

Analysts Set New Price Targets

Several equities analysts recently commented on TPR shares. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. JPMorgan Chase & Co. lifted their price target on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Guggenheim started coverage on shares of Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Wells Fargo & Company raised their target price on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Argus raised shares of Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insiders Place Their Bets

In other news, CFO Scott A. Roe sold 44,290 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the sale, the chief financial officer directly owned 139,128 shares of the company’s stock, valued at approximately $21,233,715.36. This trade represents a 24.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 164,956 shares of company stock worth $25,297,262. Company insiders own 1.32% of the company’s stock.

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.