Pinpoint Asset Management Singapore Pte. Ltd. Acquires Shares of 7,051 Tapestry, Inc. $TPR

Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the second quarter, according to its most recent filing with the SEC. The fund bought 7,051 shares of the luxury accessories retailer’s stock, valued at approximately $619,000.

Other institutional investors also recently added to or reduced their stakes in the company. First PREMIER Bank bought a new stake in Tapestry in the second quarter worth about $25,000. Vestor Capital LLC bought a new stake in shares of Tapestry during the second quarter valued at about $27,000. Flaharty Asset Management LLC purchased a new stake in shares of Tapestry in the first quarter worth about $25,000. Harbour Investments Inc. boosted its position in shares of Tapestry by 120.1% in the first quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after acquiring an additional 197 shares during the period. Finally, CVA Family Office LLC grew its stake in Tapestry by 224.8% during the second 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 in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, 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 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 approximately $865,767.07. This trade represents a 58.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 29,000 shares of the business’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 in the company, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 126,222 shares of company stock worth $13,168,985 over the last quarter. Company insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPR. Wall Street Zen raised shares of Tapestry from a “buy” rating to a “strong-buy” rating in a report on Monday, November 10th. Telsey Advisory Group reissued an “outperform” rating and set a $125.00 price objective on shares of Tapestry in a research note on Friday, November 7th. Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Raymond James Financial upped their price target on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.26.

Tapestry Stock Up 1.9%

Shares of Tapestry stock opened at $107.70 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $118.56. The company has a market cap of $22.04 billion, a P/E ratio of 170.95, a PEG ratio of 2.72 and a beta of 1.71. The company’s fifty day simple moving average is $110.49 and its two-hundred day simple moving average is $100.27.

Tapestry (NYSE:TPR) last announced its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $0.84 EPS. The company’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. Research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Stockholders of record on Friday, December 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is currently 142.86%.

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.