Caprock Group LLC Purchases New Shares in Tapestry, Inc. $TPR

Caprock Group LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,586 shares of the luxury accessories retailer’s stock, valued at approximately $3,803,000.

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

Insider Transactions at Tapestry

In other Tapestry news, CFO Scott A. Roe sold 18,794 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $104.85, for a total value of $1,970,550.90. Following the sale, the chief financial officer directly owned 148,149 shares of the company’s stock, valued at approximately $15,533,422.65. This represents a 11.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of Tapestry stock in a transaction on Friday, November 21st. The stock was sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the sale, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at approximately $70,266,307.23. This trade represents a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 155,300 shares of company stock valued at $18,059,660 over the last quarter. Insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of research analyst reports. Telsey Advisory Group lifted their price target on Tapestry to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and decreased their price objective for the company from $142.00 to $138.00 in a report on Wednesday, January 14th. Wells Fargo & Company lifted their target price on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. Finally, Argus raised shares of Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Tapestry has an average rating of “Moderate Buy” and an average target price of $143.33.

Tapestry Stock Performance

Tapestry stock opened at $154.47 on Thursday. The firm has a 50 day simple moving average of $129.99 and a 200-day simple moving average of $115.92. The stock has a market cap of $31.27 billion, a price-to-earnings ratio of 63.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.63. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $158.20.

Tapestry (NYSE:TPR) last released its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS 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 firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the firm posted $2.00 earnings per share. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry declared that its board has approved a share repurchase plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Tapestry Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, March 6th. Tapestry’s dividend payout ratio is presently 66.12%.

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.