Mutual of America Capital Management LLC Cuts Stake in Tapestry, Inc. $TPR

Mutual of America Capital Management LLC trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 50,099 shares of the luxury accessories retailer’s stock after selling 1,229 shares during the period. Mutual of America Capital Management LLC’s holdings in Tapestry were worth $4,399,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Tapestry during the first quarter valued at about $1,708,000. Nisa Investment Advisors LLC grew its position in shares of Tapestry by 16.7% during the first quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock valued at $4,460,000 after purchasing an additional 9,049 shares in the last quarter. Jump Financial LLC grew its holdings in Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock valued at $5,612,000 after buying an additional 72,623 shares in the last quarter. Allworth Financial LP grew its holdings in Tapestry by 689.0% during the 1st quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock valued at $913,000 after buying an additional 11,679 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Tapestry during the 1st quarter valued at approximately $1,476,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPR. Cowen reissued a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Raymond James Financial lifted their price objective on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday. Barclays lifted their price objective 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, BTIG Research started coverage on Tapestry in a research report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target for the company. Eighteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average target price of $110.75.

Tapestry Price Performance

TPR stock opened at $115.12 on Thursday. Tapestry, Inc. has a 12 month low of $43.07 and a 12 month high of $118.56. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company has a 50-day moving average price of $108.54 and a 200 day moving average price of $93.12. The stock has a market cap of $23.83 billion, a PE ratio of 182.73, a P/E/G ratio of 2.82 and a beta of 1.57.

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

Tapestry Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This is an increase from Tapestry’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 5th. Tapestry’s payout ratio is presently 253.97%.

Tapestry Company 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.