Tapestry, Inc. $TPR Stake Raised by Prudential Financial Inc.

Prudential Financial Inc. grew its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 126.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 260,665 shares of the luxury accessories retailer’s stock after purchasing an additional 145,433 shares during the period. Prudential Financial Inc.’s holdings in Tapestry were worth $22,889,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Jump Financial LLC increased its holdings 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 valued at $5,612,000 after buying an additional 72,623 shares in the last quarter. Nuveen LLC bought a new stake in shares of Tapestry during the 1st quarter worth $59,133,000. Czech National Bank grew its holdings in shares of Tapestry by 6.8% in the 2nd quarter. Czech National Bank now owns 50,781 shares of the luxury accessories retailer’s stock worth $4,459,000 after acquiring an additional 3,233 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Tapestry by 50.6% in the 1st quarter. Hsbc Holdings PLC now owns 351,793 shares of the luxury accessories retailer’s stock worth $24,596,000 after acquiring an additional 118,200 shares during the last quarter. Finally, Range Financial Group LLC raised its position in shares of Tapestry by 20.5% during the second quarter. Range Financial Group LLC now owns 38,447 shares of the luxury accessories retailer’s stock worth $3,376,000 after purchasing an additional 6,535 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPR. Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Wells Fargo & Company reduced their price objective on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Sanford C. Bernstein lifted their target price on shares of Tapestry from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Barclays boosted their price target on shares of Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.26.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the transaction, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David E. Howard sold 25,029 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the sale, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. This represents a 31.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 126,222 shares of company stock worth $13,168,985 over the last 90 days. 1.32% of the stock is currently owned by insiders.

Tapestry Trading Up 1.9%

NYSE:TPR opened at $107.70 on Wednesday. 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 fifty-two week low of $58.39 and a fifty-two week high of $118.56. The stock’s 50-day moving average is $110.49 and its two-hundred day moving average is $100.27. The stock has a market cap of $22.04 billion, a PE ratio of 170.95, a price-to-earnings-growth 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. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, equities research analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Tapestry’s dividend payout ratio (DPR) is 142.86%.

Tapestry announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.