7,800 Shares in Tapestry, Inc. $TPR Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB purchased a new position in Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,800 shares of the luxury accessories retailer’s stock, valued at approximately $883,000.

A number of other institutional investors have also recently made changes to their positions in TPR. Canada Pension Plan Investment Board bought a new stake in Tapestry during the 1st quarter valued at $5,943,000. Magnetar Financial LLC purchased a new position in shares of Tapestry in the first quarter valued at about $1,961,000. Evergreen Capital Management LLC raised its stake in shares of Tapestry by 3.2% during the first quarter. Evergreen Capital Management LLC now owns 6,808 shares of the luxury accessories retailer’s stock valued at $479,000 after acquiring an additional 209 shares during the last quarter. Mubadala Investment Co PJSC purchased a new stake in shares of Tapestry during the first quarter worth about $4,073,000. Finally, DRW Securities LLC bought a new stake in shares of Tapestry in the first quarter worth about $719,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Tapestry Stock Up 0.8%

Shares of Tapestry stock opened at $131.23 on Friday. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $131.40. The firm has a market cap of $26.86 billion, a price-to-earnings ratio of 117.17, a PEG ratio of 2.70 and a beta of 1.65. The company has a 50-day moving average of $113.43 and a 200 day moving average of $106.56. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93.

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 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm earned $0.84 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

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

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were paid a $0.40 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s payout ratio is presently 142.86%.

Insider Activity at Tapestry

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the completion of the transaction, the insider directly owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. The trade was a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the sale, the chief executive officer owned 667,233 shares in the company, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 115,485 shares of company stock worth $12,034,058 in the last ninety days. 1.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Guggenheim assumed coverage on Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $150.00 price target on shares of Tapestry in a report on Wednesday, December 17th. JPMorgan Chase & Co. upped their price objective on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a report on Monday, November 17th. Robert W. Baird set a $140.00 target price on shares of Tapestry in a research report on Wednesday, December 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.00.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.