Intech Investment Management LLC Lowers Position in Tapestry, Inc. $TPR

Intech Investment Management LLC decreased its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 16.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 92,731 shares of the luxury accessories retailer’s stock after selling 17,914 shares during the period. Intech Investment Management LLC’s holdings in Tapestry were worth $8,143,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TPR. First PREMIER Bank bought a new position in shares of Tapestry during the second quarter valued at approximately $25,000. Flaharty Asset Management LLC purchased a new stake in Tapestry during the first quarter worth $25,000. Harbour Investments Inc. boosted its position in Tapestry by 120.1% during the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after acquiring an additional 197 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of Tapestry by 224.8% in the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after acquiring an additional 263 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Tapestry in the 1st quarter worth $29,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

TPR has been the topic of a number of recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research report on Friday, November 7th. BTIG Research started coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. UBS Group cut their price target on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on Tapestry from $142.00 to $147.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.25.

Insider Transactions at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the firm’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 transaction, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated 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 sale, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Up 0.6%

NYSE:TPR opened at $101.34 on Monday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a twelve month low of $54.98 and a twelve month high of $118.56. The company has a market cap of $20.74 billion, a PE ratio of 160.85, a P/E/G ratio of 2.72 and a beta of 1.71. The company’s 50 day moving average is $110.85 and its two-hundred day moving average is $98.79.

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

Tapestry Announces Dividend

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

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

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.