Tapestry, Inc. $TPR Shares Sold by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey cut its position in shares of Tapestry, Inc. (NYSE:TPR) by 6.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 78,757 shares of the luxury accessories retailer’s stock after selling 5,856 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Tapestry were worth $6,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new stake in Tapestry during the first quarter worth approximately $59,133,000. AQR Capital Management LLC lifted its stake in shares of Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after purchasing an additional 838,057 shares during the period. Aviva PLC purchased a new position in shares of Tapestry during the 2nd quarter worth $67,612,000. Samlyn Capital LLC boosted its holdings in shares of Tapestry by 50.2% during the first quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after purchasing an additional 658,889 shares during the last quarter. Finally, Southpoint Capital Advisors LP grew its position in shares of Tapestry by 25.0% in the first quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock valued at $176,025,000 after purchasing an additional 500,000 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $101.34 on Friday. 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 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 fifty day simple moving average is $110.85 and its 200-day simple moving average is $98.40. Tapestry, Inc. has a 52 week low of $54.98 and a 52 week high of $118.56.

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

Tapestry announced that its Board of Directors has initiated a share buyback program 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 programs are usually an indication that the company’s board believes its shares are undervalued.

Tapestry Dividend Announcement

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

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $99.05, for a total transaction of $780,712.10. Following the sale, the vice president 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $1,202,070.80. Following the completion of the transaction, the director owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TPR shares. Evercore ISI raised their price target on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $125.00 target price on shares of Tapestry in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Sanford C. Bernstein boosted their price objective on shares of Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Raymond James Financial upped their price objective on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Eighteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $116.25.

About Tapestry

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.