Campbell & CO Investment Adviser LLC Sells 10,939 Shares of Tapestry, Inc. $TPR

Campbell & CO Investment Adviser LLC trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 26.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,737 shares of the luxury accessories retailer’s stock after selling 10,939 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Tapestry were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPR. Nisa Investment Advisors LLC increased its holdings in shares of Tapestry by 16.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,342 shares of the luxury accessories retailer’s stock worth $4,460,000 after buying an additional 9,049 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Tapestry by 1,025.9% in the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock valued at $5,612,000 after acquiring an additional 72,623 shares during the last quarter. Allworth Financial LP grew its position in Tapestry by 689.0% in the first quarter. Allworth Financial LP now owns 13,374 shares of the luxury accessories retailer’s stock worth $913,000 after acquiring an additional 11,679 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Tapestry during the first quarter worth approximately $1,476,000. Finally, Nuveen LLC purchased a new stake in Tapestry during the first quarter valued at approximately $59,133,000. 90.77% of the stock is currently owned by institutional investors.

Tapestry Stock Up 4.9%

Tapestry stock opened at $103.67 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.87 and a debt-to-equity ratio of 2.77. The firm has a market cap of $21.46 billion, a P/E ratio of 164.55, a P/E/G ratio of 2.72 and a beta of 1.71. The business has a fifty day moving average of $110.95 and a two-hundred day moving average of $97.62. Tapestry, Inc. has a twelve month low of $49.84 and a twelve month high of $118.56.

Tapestry (NYSE:TPR) last released its quarterly earnings results 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. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period in the previous year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 22nd. Investors 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 dividend yield of 1.5%. The ex-dividend date is Friday, December 5th. Tapestry’s payout ratio is 142.86%.

Insider Buying and Selling

In related news, Director Alan Ka Ming Lau sold 11,320 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director owned 8,153 shares of the company’s stock, valued at $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 is available at this link. Also, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction on 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 transaction, the vice president directly owned 21,098 shares in the company, valued at $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TPR has been the subject of a number of recent research reports. Barclays lifted their target price on Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Wells Fargo & Company cut their price objective on shares of Tapestry from $135.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday. Wall Street Zen upgraded shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Monday. BTIG Research initiated coverage on shares of Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday. Eighteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.25.

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.