Intact Investment Management Inc. Trims Position in Tapestry, Inc. $TPR

Intact Investment Management Inc. cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 46.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,200 shares of the luxury accessories retailer’s stock after selling 16,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Tapestry were worth $2,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LBP AM SA grew its stake in Tapestry by 2.6% during the third quarter. LBP AM SA now owns 77,751 shares of the luxury accessories retailer’s stock valued at $8,803,000 after acquiring an additional 1,987 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Tapestry by 19.8% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 2,225 shares of the luxury accessories retailer’s stock valued at $252,000 after purchasing an additional 368 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Tapestry during the third quarter valued at about $206,000. Whittier Trust Co. increased its holdings in shares of Tapestry by 53.2% in the third quarter. Whittier Trust Co. now owns 478 shares of the luxury accessories retailer’s stock worth $55,000 after purchasing an additional 166 shares during the last quarter. Finally, Sagespring Wealth Partners LLC lifted its position in shares of Tapestry by 31.2% in the third quarter. Sagespring Wealth Partners LLC now owns 3,546 shares of the luxury accessories retailer’s stock worth $402,000 after buying an additional 844 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TPR. Raymond James Financial lifted their price objective on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Morgan Stanley upped their price target on shares of Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and lowered their price objective for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. The Goldman Sachs Group boosted their target price on shares of Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.11.

Insider Activity at Tapestry

In related news, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction dated 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 directly owned 55,354 shares of the company’s stock, valued at $5,673,785. This represents a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Roe sold 18,794 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the transaction, the chief financial officer owned 148,149 shares in the company, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,485 shares of company stock worth $12,034,058 over the last three months. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

TPR stock opened at $126.22 on Tuesday. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $136.04. The firm has a market cap of $25.83 billion, a price-to-earnings ratio of 112.70, a PEG ratio of 2.23 and a beta of 1.63. The business’s fifty day simple moving average is $122.80 and its two-hundred day simple moving average is $113.18. 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 posted its quarterly earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $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 Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.3%. Tapestry’s dividend payout ratio is 142.86%.

Tapestry declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership 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.