L2 Asset Management LLC Purchases 5,409 Shares of Tapestry, Inc. $TPR

L2 Asset Management LLC lifted its position in shares of Tapestry, Inc. (NYSE:TPR) by 17.9% during the third quarter, Holdings Channel reports. The institutional investor owned 35,614 shares of the luxury accessories retailer’s stock after purchasing an additional 5,409 shares during the period. L2 Asset Management LLC’s holdings in Tapestry were worth $4,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in Tapestry in the 3rd quarter worth $26,000. Vestor Capital LLC purchased a new position in shares of Tapestry in the second quarter valued at about $27,000. Larson Financial Group LLC boosted its stake in shares of Tapestry by 210.4% in the third quarter. Larson Financial Group LLC now owns 388 shares of the luxury accessories retailer’s stock worth $44,000 after acquiring an additional 263 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Tapestry in the second quarter worth about $39,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Tapestry during the third quarter worth about $54,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

NYSE:TPR opened at $141.82 on Tuesday. The business’s 50-day moving average is $142.23 and its 200 day moving average is $123.53. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $161.97. The company has a market capitalization of $28.71 billion, a P/E ratio of 58.60, a P/E/G ratio of 1.71 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 (NYSE:TPR) last released 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. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the business posted $2.00 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Dividend Announcement

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 $0.40 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is 66.12%.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 2,147 shares of the company’s 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 owned 18,475 shares of the company’s stock, valued at $2,835,358.25. This represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,956 shares of company stock valued at $25,297,262 in the last three months. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPR. Guggenheim initiated coverage on Tapestry in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Robert W. Baird set a $160.00 price target on Tapestry in a research note on Friday, February 6th. Barclays set a $179.00 price objective on shares of Tapestry and gave the company an “overweight” rating in a research report on Friday, February 6th. BNP Paribas Exane began coverage on shares of Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price on the stock. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $170.00 target price on shares of Tapestry in a research report 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $151.06.

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.