Chevy Chase Trust Holdings LLC Increases Position in Tapestry, Inc. $TPR

Chevy Chase Trust Holdings LLC raised its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,767 shares of the luxury accessories retailer’s stock after buying an additional 1,130 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Tapestry were worth $9,639,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TPR. WT Asset Management Ltd boosted its holdings in shares of Tapestry by 140.6% in the first quarter. WT Asset Management Ltd now owns 1,574,634 shares of the luxury accessories retailer’s stock valued at $110,870,000 after purchasing an additional 920,087 shares during the period. Nuveen LLC purchased a new stake in shares of Tapestry in the first quarter valued at approximately $59,133,000. AQR Capital Management LLC boosted its holdings in shares of Tapestry by 47.4% in the first quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock valued at $177,405,000 after purchasing an additional 838,057 shares during the period. Samlyn Capital LLC boosted its holdings in shares of Tapestry by 50.2% in the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock valued at $138,865,000 after purchasing an additional 658,889 shares during the period. Finally, WCM Investment Management LLC purchased a new stake in shares of Tapestry in the first quarter valued at approximately $37,495,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a report on Monday, September 22nd. Barclays boosted their price target on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. The Goldman Sachs Group boosted their price target on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Finally, BTIG Research initiated coverage on Tapestry in a research report on Tuesday, October 14th. They set a “buy” rating and a $140.00 target price on the stock. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Insiders Place Their Bets

In other news, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on 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 sale, the vice president owned 21,098 shares of the company’s stock, valued at $2,089,756.90. This trade represents a 27.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on 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 completion of the sale, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale can be found here. 1.32% of the stock is owned by company insiders.

Tapestry Stock Up 0.2%

Shares of NYSE TPR opened at $116.70 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. The stock has a market capitalization of $24.16 billion, a PE ratio of 185.23, a price-to-earnings-growth ratio of 2.82 and a beta of 1.57. The stock’s fifty day simple moving average is $108.22 and its two-hundred day simple moving average is $92.43. Tapestry, Inc. has a 12-month low of $43.07 and a 12-month high of $118.56.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. As a group, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 5th. This is a positive change from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s payout ratio is 253.97%.

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.