AlphaQuest LLC Sells 12,190 Shares of Tapestry, Inc. $TPR

AlphaQuest LLC trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 84.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,265 shares of the luxury accessories retailer’s stock after selling 12,190 shares during the period. AlphaQuest LLC’s holdings in Tapestry were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cloud Capital Management LLC bought a new position in Tapestry during the third quarter valued at $26,000. Vestor Capital LLC purchased a new position in Tapestry in the second quarter worth about $27,000. CVA Family Office LLC increased its stake in Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after acquiring an additional 263 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in Tapestry during the second quarter valued at approximately $37,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Tapestry in the 2nd quarter valued at approximately $39,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and reduced their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. Evercore lifted their price target on shares of Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Finally, Barclays set a $179.00 price objective on shares of Tapestry and gave the stock an “overweight” rating in a research note on Friday. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insider Transactions at Tapestry

In other Tapestry news, insider David E. Howard sold 25,029 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the completion of the sale, the insider owned 55,354 shares in the company, valued at $5,673,785. This represents a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the sale, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. This trade represents a 4.54% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 115,485 shares of company stock worth $12,034,058. Insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

Tapestry stock opened at $154.61 on Tuesday. The company has a 50 day moving average price of $128.27 and a 200-day moving average price of $115.33. The company has a market capitalization of $31.30 billion, a PE ratio of 63.89, a P/E/G ratio of 2.28 and a beta of 1.63. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $155.23. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company posted $2.00 EPS. Tapestry’s revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, equities analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s payout ratio is currently 66.12%.

Tapestry announced that its Board of Directors has authorized a share 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 buy up to 4.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are 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.