Allstate Corp Makes New Investment in Tapestry, Inc. $TPR

Allstate Corp bought a new stake in Tapestry, Inc. (NYSE:TPR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,641 shares of the luxury accessories retailer’s stock, valued at approximately $865,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPR. Woodline Partners LP increased its position in Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock worth $1,231,000 after buying an additional 3,495 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Tapestry in the 1st quarter valued at $493,000. Sivia Capital Partners LLC acquired a new stake in Tapestry during the second quarter valued at approximately $602,000. UMB Bank n.a. raised its stake in Tapestry by 91.2% during the second quarter. UMB Bank n.a. now owns 2,449 shares of the luxury accessories retailer’s stock worth $215,000 after acquiring an additional 1,168 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in Tapestry by 9.1% in the second quarter. Park Avenue Securities LLC now owns 6,399 shares of the luxury accessories retailer’s stock valued at $562,000 after buying an additional 536 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target 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. Sanford C. Bernstein reissued an “outperform” rating and issued a $150.00 price target on shares of Tapestry in a research note on Tuesday, January 6th. Argus raised shares of Tapestry to a “strong-buy” rating in a research report on Friday, January 16th. Evercore ISI upped their price objective on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus price target of $129.11.

Insider Activity

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of Tapestry stock in a transaction on Thursday, December 4th. The stock was 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 $2,221,053.45. The trade was a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Kahn sold 29,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the sale, the chief executive officer owned 86,736 shares in the company, valued at $8,919,062.88. The trade was a 25.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

NYSE TPR opened at $132.21 on Thursday. Tapestry, Inc. has a 1 year low of $58.39 and a 1 year high of $136.04. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $27.06 billion, a P/E ratio of 118.04, a price-to-earnings-growth ratio of 2.65 and a beta of 1.63. The firm’s fifty day moving average price is $121.16 and its two-hundred day moving average price is $112.33.

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

Tapestry Dividend Announcement

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

Tapestry announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.