Candriam S.C.A. Invests $22.91 Million in Tapestry, Inc. $TPR

Candriam S.C.A. bought a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 260,834 shares of the luxury accessories retailer’s stock, valued at approximately $22,905,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after buying an additional 197 shares in the last quarter. Flaharty Asset Management LLC purchased a new stake in shares of Tapestry during the first quarter worth about $25,000. First PREMIER Bank acquired a new position in shares of Tapestry in the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tapestry in the first quarter worth about $29,000. Finally, CVA Family Office LLC boosted its holdings in Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares in the company, valued at $865,767.07. This represents a 58.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the stock in a transaction dated Monday, August 25th. The stock was 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. This trade represents a 27.20% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Down 3.1%

TPR stock opened at $100.72 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. Tapestry, Inc. has a 1-year low of $54.98 and a 1-year high of $118.56. The firm has a fifty day moving average price of $110.91 and a two-hundred day moving average price of $98.17. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of 159.87, a PEG ratio of 2.72 and a beta of 1.71.

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

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

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.6%. Tapestry’s dividend payout ratio is 142.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Evercore ISI lifted their price objective on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Raymond James Financial upped 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. UBS Group decreased their price objective on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, August 15th. Finally, Jefferies Financial Group upped their target price on shares of Tapestry from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.25.

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.