Federated Hermes Inc. Increases Stake in Tapestry, Inc. $TPR

Federated Hermes Inc. grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 608.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,872 shares of the luxury accessories retailer’s stock after purchasing an additional 88,358 shares during the quarter. Federated Hermes Inc.’s holdings in Tapestry were worth $11,647,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after acquiring an additional 606,686 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after purchasing an additional 158,782 shares during the last quarter. SRS Investment Management LLC increased its holdings in Tapestry by 12.4% during the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after purchasing an additional 589,000 shares during the period. Schroder Investment Management Group raised its position in Tapestry by 1,661.6% during the 2nd 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 last quarter. Finally, AQR Capital Management LLC lifted its holdings 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 worth $311,388,000 after buying an additional 939,227 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tapestry

In other news, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 148,149 shares in the company, valued at $15,533,422.65. This trade represents a 11.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Denise Kulikowsky sold 583 shares of the company’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 completion of the transaction, 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 position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TPR shares. Sanford C. Bernstein reissued an “outperform” rating and set a $150.00 target price on shares of Tapestry in a research note on Tuesday, January 6th. Robert W. Baird set a $140.00 price objective on shares of Tapestry in a research report on Wednesday, December 17th. Jefferies Financial Group lowered shares of Tapestry from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $142.00 to $138.00 in a report on Wednesday, January 14th. Barclays lifted their target price on shares of Tapestry from $154.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $150.00 price target on shares of Tapestry in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $129.95.

Tapestry Trading Down 0.4%

NYSE:TPR opened at $126.81 on Friday. The firm has a market capitalization of $25.95 billion, a P/E ratio of 113.23, a PEG ratio of 2.18 and a beta of 1.63. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.52 and a quick ratio of 0.93. Tapestry, Inc. has a one year low of $58.39 and a one year high of $136.04. The company’s 50-day simple moving average is $124.65 and its 200 day simple moving average is $113.83.

Tapestry (NYSE:TPR) last released its earnings results 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 net margin of 3.77% and a return on equity of 116.42%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the business earned $0.84 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry announced that its Board of Directors has authorized a stock buyback plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to reacquire up to 4.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Tapestry Announces Dividend

The business also recently announced 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 1.3%. The ex-dividend date of this dividend was Friday, December 5th. Tapestry’s payout ratio is 142.86%.

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.