Fjarde AP Fonden Fourth Swedish National Pension Fund Acquires New Position in Tapestry, Inc. $TPR

Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 37,100 shares of the luxury accessories retailer’s stock, valued at approximately $4,200,000.

Several other institutional investors have also modified their holdings of TPR. Schroder Investment Management Group boosted its holdings in Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after purchasing an additional 3,775,593 shares during the period. Norges Bank acquired a new stake in Tapestry in the 2nd quarter valued at about $227,248,000. AQR Capital Management LLC raised its position in Tapestry by 36.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after purchasing an additional 939,227 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Tapestry by 2,547.4% in the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock valued at $83,917,000 after buying an additional 919,569 shares during the period. Finally, Aviva PLC acquired a new position in shares of Tapestry during the second quarter worth about $67,612,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the sale, the insider owned 55,354 shares in the company, valued at $5,673,785. This represents a 31.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. The trade was a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Shares of TPR stock opened at $130.89 on Monday. The stock’s 50-day moving average is $119.56 and its two-hundred day moving average is $111.64. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of 116.86, a PEG ratio of 2.69 and a beta of 1.63. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $136.04. 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 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. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its board has approved a stock buyback plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Tapestry Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TPR. BTIG Research began coverage on shares of Tapestry in a research note on Tuesday, October 14th. They issued a “buy” rating and a $140.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Barclays boosted their target price on shares of Tapestry from $154.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. The Goldman Sachs Group raised their price target on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Tapestry in a research report on Tuesday, January 6th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $126.05.

Tapestry Company 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.