Massachusetts Financial Services Co. MA Purchases 1,750,566 Shares of Tapestry, Inc. $TPR

Massachusetts Financial Services Co. MA grew its position in Tapestry, Inc. (NYSE:TPR) by 250.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,449,170 shares of the luxury accessories retailer’s stock after acquiring an additional 1,750,566 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.18% of Tapestry worth $277,295,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Woodline Partners LP raised its position in Tapestry by 25.0% in the 1st quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after purchasing an additional 3,495 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Tapestry in the first quarter worth approximately $493,000. Sivia Capital Partners LLC bought a new stake in shares of Tapestry during the 2nd quarter worth approximately $602,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Tapestry by 10.0% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,414 shares of the luxury accessories retailer’s stock worth $475,000 after acquiring an additional 494 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Tapestry by 15.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 108,533 shares of the luxury accessories retailer’s stock valued at $9,790,000 after acquiring an additional 14,328 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

NYSE TPR opened at $130.89 on Tuesday. The firm’s fifty day simple moving average is $120.05 and its two-hundred day simple moving average is $111.92. The firm has a market capitalization of $26.79 billion, a P/E ratio of 116.86, a P/E/G ratio of 2.69 and a beta of 1.63. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $136.04.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, beating the consensus estimate of $1.25 by $0.13. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

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

Tapestry Announces Dividend

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

Insider Buying and Selling at Tapestry

In other news, 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 transaction of $67,144.11. Following the sale, the insider owned 19,285 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Howard sold 25,029 shares of the stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the completion of the transaction, the insider directly owned 55,354 shares of the company’s stock, valued at $5,673,785. The trade was a 31.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 115,485 shares of company stock valued at $12,034,058. Insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $150.00 target price on shares of Tapestry in a research note on Tuesday, January 6th. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Wells Fargo & Company raised their price target on shares of Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Raymond James Financial boosted their price objective on shares of Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Guggenheim assumed coverage on shares of Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating on the stock. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.05.

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.