Sterling Capital Management LLC Has $9.26 Million Holdings in Tapestry, Inc. $TPR

Sterling Capital Management LLC boosted its position in shares of Tapestry, Inc. (NYSE:TPR) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,416 shares of the luxury accessories retailer’s stock after buying an additional 5,278 shares during the quarter. Sterling Capital Management LLC owned approximately 0.05% of Tapestry worth $9,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPR. Savant Capital LLC boosted its stake in Tapestry by 46.5% in the second quarter. Savant Capital LLC now owns 29,391 shares of the luxury accessories retailer’s stock valued at $2,581,000 after acquiring an additional 9,326 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its position in shares of Tapestry by 15.5% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 2,219 shares of the luxury accessories retailer’s stock worth $193,000 after purchasing an additional 297 shares during the last quarter. Convergence Financial LLC grew its stake in shares of Tapestry by 3.0% during the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after purchasing an additional 98 shares during the period. Genus Capital Management Inc. increased its holdings in Tapestry by 50.8% in the second quarter. Genus Capital Management Inc. now owns 49,590 shares of the luxury accessories retailer’s stock valued at $4,354,000 after purchasing an additional 16,705 shares during the last quarter. Finally, Wellington Shields Capital Management LLC acquired a new position in Tapestry in the second quarter valued at about $241,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Tapestry from $139.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Cowen reaffirmed a “buy” rating on shares of Tapestry in a research note on Thursday, August 7th. Sanford C. Bernstein reissued an “outperform” rating and set a $112.00 price target on shares of Tapestry in a research report on Friday, August 15th. Raymond James Financial boosted their price target on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen downgraded Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.35.

Tapestry Price Performance

Shares of NYSE TPR opened at $98.88 on Friday. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.87 and a quick ratio of 1.31. The business has a 50-day moving average of $110.91 and a 200-day moving average of $96.89. The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 156.95, a PEG ratio of 2.72 and a beta of 1.71. Tapestry, Inc. has a fifty-two week low of $49.84 and a fifty-two week high of $118.56.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, December 5th. Tapestry’s payout ratio is presently 253.97%.

Tapestry declared that its board has approved a share repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Tapestry

In other news, 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 transaction, the director directly owned 8,153 shares in the company, valued at $865,767.07. The trade was a 58.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the completion of the sale, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. The trade was a 27.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.32% of the company’s stock.

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.