Tapestry, Inc. $TPR Holdings Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Tapestry, Inc. (NYSE:TPR) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,274,823 shares of the luxury accessories retailer’s stock after acquiring an additional 159,515 shares during the period. Bank of New York Mellon Corp owned 1.10% of Tapestry worth $257,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. 1858 Wealth Management LLC lifted its position in Tapestry by 2.5% in the second quarter. 1858 Wealth Management LLC now owns 3,835 shares of the luxury accessories retailer’s stock worth $337,000 after purchasing an additional 95 shares during the period. Convergence Financial LLC lifted its holdings in shares of Tapestry by 3.0% in the second quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after buying an additional 98 shares during the period. Earned Wealth Advisors LLC boosted its stake in Tapestry by 1.6% during the second quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after buying an additional 116 shares in the last quarter. Blue Trust Inc. grew its holdings in Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after acquiring an additional 122 shares during the period. Finally, Wedmont Private Capital raised its position in Tapestry by 3.3% in the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock worth $502,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of several research reports. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and reduced their price objective for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. Robert W. Baird set a $140.00 price target on shares of Tapestry in a research report on Wednesday, December 17th. Wells Fargo & Company upped their price target on Tapestry from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Guggenheim started coverage on Tapestry in a research note on Tuesday, December 9th. They set a “neutral” rating for the company. Finally, Evercore ISI lifted their target price on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average price target of $129.11.

Tapestry Stock Performance

Shares of Tapestry stock opened at $127.18 on Friday. Tapestry, Inc. has a 12 month low of $58.39 and a 12 month high of $136.04. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. The stock has a market cap of $26.03 billion, a PE ratio of 113.55, a price-to-earnings-growth ratio of 2.16 and a beta of 1.63. The business has a fifty day simple moving average of $124.22 and a 200-day simple moving average of $113.57.

Tapestry (NYSE:TPR) last posted its quarterly 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. 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 period in the previous year, the firm earned $0.84 earnings per share. Tapestry’s quarterly revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, sell-side analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Investors of record on Friday, December 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Tapestry’s payout ratio is presently 142.86%.

Tapestry announced that its board has authorized a share buyback program on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to repurchase up to 4.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Tapestry

In other news, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the transaction, the insider directly owned 19,285 shares of the company’s stock, valued at approximately $2,221,053.45. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Scott A. Roe sold 18,794 shares of the stock in a transaction on 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 approximately $15,533,422.65. This represents a 11.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is owned by company insiders.

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.