Abacus FCF Advisors LLC Makes New Investment in Tapestry, Inc. $TPR

Abacus FCF Advisors LLC bought a new position in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 153,086 shares of the luxury accessories retailer’s stock, valued at approximately $17,332,000. Tapestry accounts for 2.3% of Abacus FCF Advisors LLC’s portfolio, making the stock its 13th largest position. Abacus FCF Advisors LLC owned approximately 0.07% of Tapestry at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flaharty Asset Management LLC acquired a new stake in Tapestry in the first quarter valued at about $25,000. First PREMIER Bank acquired a new position in Tapestry during the second quarter worth $25,000. Vestor Capital LLC purchased a new position in Tapestry in the second quarter worth $27,000. CVA Family Office LLC lifted its holdings in 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 acquiring an additional 263 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Tapestry during the 2nd quarter worth $37,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted 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. Telsey Advisory Group reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Tapestry in a report on Wednesday, December 17th. JPMorgan Chase & Co. raised their price target on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley lifted their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Guggenheim assumed coverage on shares of Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.00.

Insider Transactions at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 31,735 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the completion of the sale, the chief executive officer owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Scott A. Roe sold 18,794 shares of the company’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 sale, the chief financial officer owned 148,149 shares of the company’s stock, valued at $15,533,422.65. This represents a 11.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 115,485 shares of company stock valued at $12,034,058 in the last ninety days. Company insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $130.45 on Tuesday. The company has a market cap of $26.70 billion, a P/E ratio of 116.47, a P/E/G ratio of 2.70 and a beta of 1.65. The business has a fifty day simple moving average of $113.72 and a 200-day simple moving average of $107.07. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $131.40. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm posted $0.84 EPS. The company’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. Equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

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

Tapestry declared that its board has approved a stock repurchase plan 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 repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Profile

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.