Sumitomo Mitsui DS Asset Management Company Ltd Purchases 22,833 Shares of Tapestry, Inc. $TPR

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Tapestry, Inc. (NYSE:TPR) by 421.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,247 shares of the luxury accessories retailer’s stock after purchasing an additional 22,833 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tapestry were worth $3,198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPR. First PREMIER Bank purchased a new position in Tapestry during the second quarter worth about $25,000. Vestor Capital LLC purchased a new stake in shares of Tapestry in the 2nd quarter valued at about $27,000. CVA Family Office LLC boosted its position in shares of Tapestry by 224.8% during 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 last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Tapestry during the second quarter worth about $37,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Tapestry in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $133.75 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. The stock has a market cap of $27.37 billion, a PE ratio of 119.42, a PEG ratio of 2.76 and a beta of 1.63. The company’s fifty day moving average is $117.29 and its 200 day moving average is $110.35. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $136.04.

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, beating the consensus estimate 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 3.77% and a return on equity of 116.42%. The company’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Research analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, December 5th. Tapestry’s dividend payout ratio (DPR) is presently 142.86%.

Tapestry declared that its Board of Directors has approved a stock repurchase 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 purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

TPR has been the subject of several research analyst reports. Evercore ISI lifted their target price on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Tapestry in a report on Wednesday, December 17th. Robert W. Baird set a $140.00 target price on shares of Tapestry in a research report on Wednesday, December 17th. Sanford C. Bernstein restated an “outperform” rating and set a $150.00 price target on shares of Tapestry in a research report on Tuesday, January 6th. Finally, BTIG Research started coverage on Tapestry in a research note on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target for the company. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.26.

Insiders Place Their Bets

In related news, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the transaction, the insider directly owned 19,285 shares of the company’s stock, valued at $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Kahn sold 29,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the sale, the chief executive officer owned 86,736 shares of the company’s stock, valued at $8,919,062.88. This represents a 25.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Company Profile

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.