Assenagon Asset Management S.A. Buys Shares of 311,524 Tapestry, Inc. $TPR

Assenagon Asset Management S.A. purchased a new position in shares of Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 311,524 shares of the luxury accessories retailer’s stock, valued at approximately $35,271,000. Assenagon Asset Management S.A. owned about 0.15% of Tapestry as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jump Financial LLC grew its holdings in Tapestry by 1,025.9% during the 1st quarter. Jump Financial LLC now owns 79,702 shares of the luxury accessories retailer’s stock valued at $5,612,000 after buying an additional 72,623 shares during the last quarter. Czech National Bank raised its holdings in shares of Tapestry by 6.8% in the second quarter. Czech National Bank now owns 50,781 shares of the luxury accessories retailer’s stock worth $4,459,000 after acquiring an additional 3,233 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Tapestry by 5,027.6% in the second quarter. Fisher Asset Management LLC now owns 499,988 shares of the luxury accessories retailer’s stock worth $43,904,000 after acquiring an additional 490,237 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Tapestry by 50.6% during the first quarter. Hsbc Holdings PLC now owns 351,793 shares of the luxury accessories retailer’s stock valued at $24,596,000 after acquiring an additional 118,200 shares during the last quarter. Finally, Range Financial Group LLC boosted its stake in shares of Tapestry by 20.5% during the second quarter. Range Financial Group LLC now owns 38,447 shares of the luxury accessories retailer’s stock valued at $3,376,000 after acquiring an additional 6,535 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $104.85, for a total value of $1,970,550.90. Following the transaction, the chief financial officer directly owned 148,149 shares in the company, valued at $15,533,422.65. This trade represents a 11.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Denise Kulikowsky sold 583 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $115.17, for a total value of $67,144.11. Following the sale, the insider owned 19,285 shares of the company’s stock, valued at $2,221,053.45. The trade was a 2.93% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TPR shares. Wells Fargo & Company boosted their target price on shares of Tapestry from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. 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 report on Friday, November 7th. Robert W. Baird set a $140.00 price objective on shares of Tapestry in a research note on Wednesday. Finally, Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Tapestry Price Performance

Tapestry stock opened at $125.45 on Friday. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $127.54. The firm has a 50 day moving average price of $111.72 and a 200 day moving average price of $104.28. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 112.01, a PEG ratio of 2.51 and a beta of 1.65. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52.

Tapestry (NYSE:TPR) last posted 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 3.77% and a return on equity of 116.42%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $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. Sell-side analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its Board of Directors has authorized a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.3%. Tapestry’s dividend payout ratio is currently 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.