Tapestry, Inc. $TPR Position Lessened by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 19.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,770 shares of the luxury accessories retailer’s stock after selling 16,258 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Tapestry were worth $5,772,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TPR. Harbour Investments Inc. boosted its holdings in shares of Tapestry by 120.1% during 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. Flaharty Asset Management LLC bought a new stake in Tapestry in the 1st quarter valued at about $25,000. First PREMIER Bank acquired a new position in Tapestry during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Tapestry in the 1st quarter worth about $29,000. Finally, CVA Family Office LLC increased its stake in shares of Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after purchasing an additional 263 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tapestry

In other news, VP Manesh Dadlani sold 7,882 shares of the 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 sale, the vice president owned 21,098 shares in the company, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents 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 corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TPR. Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Bank of America lowered Tapestry from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $95.00 to $115.00 in a research report on Tuesday, July 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $142.00 to $147.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, UBS Group decreased their target price on shares of Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Eighteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.25.

Tapestry Stock Up 0.6%

TPR opened at $101.34 on Friday. 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 company has a market capitalization 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 stock’s fifty day moving average is $110.85 and its 200-day moving average is $98.60. Tapestry, Inc. has a one year low of $54.98 and a one year high of $118.56.

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 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 business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities analysts predict that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Tapestry Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors 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 dividend yield of 1.6%. The ex-dividend date is Friday, December 5th. Tapestry’s payout ratio is presently 142.86%.

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.