Tapestry, Inc. $TPR Stake Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Tapestry, Inc. (NYSE:TPR) by 85.4% during the third quarter, HoldingsChannel reports. The fund owned 122,978 shares of the luxury accessories retailer’s stock after selling 717,303 shares during the quarter. Victory Capital Management Inc.’s holdings in Tapestry were worth $13,924,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Schroder Investment Management Group raised its holdings in Tapestry by 1,661.6% during 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. Norges Bank bought a new stake in shares of Tapestry during the 2nd quarter worth about $227,248,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Tapestry by 250.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock valued at $277,295,000 after acquiring an additional 1,750,566 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after acquiring an additional 939,227 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Tapestry by 2,547.4% in the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock valued at $83,917,000 after acquiring an additional 919,569 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TPR shares. UBS Group reaffirmed a “neutral” rating and set a $141.00 target price on shares of Tapestry in a research report on Monday, February 9th. Robert W. Baird set a $160.00 price objective on shares of Tapestry in a research note on Friday, February 6th. The Goldman Sachs Group set a $166.00 price objective on shares of Tapestry in a report on Friday, February 6th. Citigroup raised their target price on shares of Tapestry from $152.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, TD Cowen reissued a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insiders Place Their Bets

In related news, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the sale, the insider directly owned 26,942 shares of the company’s stock, valued at $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne Gates sold 6,498 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total value of $999,327.42. Following the transaction, the director owned 22,698 shares in the company, valued at $3,490,725.42. This represents a 22.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 164,956 shares of company stock valued at $25,297,262 in the last quarter. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Up 1.9%

TPR opened at $148.20 on Wednesday. The business has a 50 day moving average of $141.06 and a 200-day moving average of $122.34. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 61.24, a P/E/G ratio of 1.74 and a beta of 1.55. 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 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, 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company earned $2.00 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

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