AGF Management Ltd. Decreases Stock Holdings in Tapestry, Inc. $TPR

AGF Management Ltd. lowered its position in Tapestry, Inc. (NYSE:TPR) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,742 shares of the luxury accessories retailer’s stock after selling 4,054 shares during the period. AGF Management Ltd. owned approximately 0.05% of Tapestry worth $9,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First PREMIER Bank acquired a new stake in Tapestry in the second quarter worth about $25,000. Flaharty Asset Management LLC purchased a new position in shares of Tapestry in the 1st quarter valued at approximately $25,000. Harbour Investments Inc. boosted its stake in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after purchasing an additional 197 shares in the last quarter. CVA Family Office LLC boosted its stake in Tapestry by 224.8% in the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after purchasing an additional 263 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Tapestry during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James Financial raised their price target on shares of Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. BTIG Research initiated coverage on Tapestry in a research report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, October 8th. Robert W. Baird set a $130.00 price target on Tapestry in a research note on Wednesday, October 29th. Finally, Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 2nd. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.25.

Insider Buying and Selling

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president directly owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the 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 transaction, the director directly owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by insiders.

Tapestry Stock Up 4.9%

TPR stock opened at $103.67 on Friday. The firm has a market cap of $21.46 billion, a PE ratio of 164.55, a P/E/G ratio of 2.72 and a beta of 1.71. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87. The firm’s fifty day moving average is $110.95 and its 200 day moving average is $97.40. Tapestry, Inc. has a one year low of $49.84 and a one year high of $118.56.

Tapestry (NYSE:TPR) last issued its quarterly earnings data 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s revenue 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, research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio (DPR) is presently 142.86%.

Tapestry declared that its board has authorized a stock repurchase program on Thursday, November 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.