Tapestry, Inc. $TPR Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System raised its position in Tapestry, Inc. (NYSE:TPR) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,638 shares of the luxury accessories retailer’s stock after acquiring an additional 289 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Tapestry worth $18,057,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TPR. China Universal Asset Management Co. Ltd. acquired a new position in shares of Tapestry in the first quarter valued at approximately $1,708,000. Nisa Investment Advisors LLC boosted its position in Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock valued at $4,460,000 after buying an additional 9,049 shares during the period. Jump Financial LLC grew its stake in shares of Tapestry by 1,025.9% in the first quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock worth $5,612,000 after acquiring an additional 72,623 shares in the last quarter. Allworth Financial LP increased its position in shares of Tapestry by 689.0% during the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after acquiring an additional 11,679 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Tapestry in the first quarter valued at $1,476,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TPR shares. Bank of America cut Tapestry from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $95.00 to $115.00 in a research note on Tuesday, July 29th. Cowen reissued a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Wells Fargo & Company raised their target price on shares of Tapestry from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Barclays lifted their price target on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Finally, Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 22nd. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and an average target price of $110.00.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is currently owned by insiders.

Tapestry Stock Performance

Shares of TPR opened at $116.70 on Friday. The company has a market capitalization of $24.16 billion, a price-to-earnings ratio of 185.23, a price-to-earnings-growth ratio of 2.81 and a beta of 1.57. Tapestry, Inc. has a 52-week low of $43.07 and a 52-week high of $118.56. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average price of $108.22 and a 200 day moving average price of $92.12.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Research analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 1.4%. Tapestry’s dividend payout ratio is 253.97%.

Tapestry Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.