Edgestream Partners L.P. Purchases 13,981 Shares of Tapestry, Inc. $TPR

Edgestream Partners L.P. increased its position in Tapestry, Inc. (NYSE:TPR) by 24.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,834 shares of the luxury accessories retailer’s stock after acquiring an additional 13,981 shares during the period. Edgestream Partners L.P.’s holdings in Tapestry were worth $6,308,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TPR. 1858 Wealth Management LLC boosted its position in Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after purchasing an additional 95 shares during the last quarter. Convergence Financial LLC lifted its stake in shares of Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after purchasing an additional 98 shares during the period. Earned Wealth Advisors LLC boosted its holdings in shares of Tapestry by 1.6% in the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock worth $641,000 after buying an additional 116 shares during the last quarter. Zions Bancorporation National Association UT boosted its holdings in shares of Tapestry by 9.3% in the second quarter. Zions Bancorporation National Association UT now owns 2,029 shares of the luxury accessories retailer’s stock worth $178,000 after buying an additional 172 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in 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 buying an additional 197 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other Tapestry news, CEO Joanne C. Crevoiserat sold 31,735 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the transaction, the chief executive officer owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan Ka Ming Lau sold 11,320 shares of the 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 completion of the sale, the director owned 8,153 shares in the company, valued at approximately $865,767.07. The trade was a 58.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 126,222 shares of company stock worth $13,168,985 over the last three months. 1.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. BTIG Research assumed coverage on Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Wells Fargo & Company cut their price target on Tapestry from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Cowen restated a “buy” rating on shares of Tapestry in a research report on Thursday, August 7th. Finally, Raymond James Financial lifted their price objective on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Eighteen 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, Tapestry currently has an average rating of “Moderate Buy” and a consensus price target of $119.26.

Tapestry Stock Down 2.6%

Shares of TPR opened at $109.18 on Wednesday. The business’s 50 day moving average is $110.17 and its 200 day moving average is $101.23. 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 capitalization of $22.34 billion, a PE ratio of 173.30, a price-to-earnings-growth ratio of 2.72 and a beta of 1.71.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.84 earnings per share. Tapestry’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. Research analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

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

Tapestry Dividend Announcement

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, December 5th. Tapestry’s dividend payout ratio is 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.