Impax Asset Management Group plc Buys New Shares in Tapestry, Inc. $TPR

Impax Asset Management Group plc acquired a new stake in shares of Tapestry, Inc. (NYSE:TPR) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 59,742 shares of the luxury accessories retailer’s stock, valued at approximately $6,764,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPR. Great Diamond Partners LLC purchased a new stake in Tapestry during the third quarter valued at $2,395,000. Stevens Capital Partners bought a new stake in shares of Tapestry in the 3rd quarter worth about $8,880,000. Three Seasons Wealth LLC bought a new position in shares of Tapestry in the 3rd quarter valued at about $1,882,000. Fisher Asset Management LLC raised its position in Tapestry by 5,027.6% during the second quarter. Fisher Asset Management LLC now owns 499,988 shares of the luxury accessories retailer’s stock valued at $43,904,000 after purchasing an additional 490,237 shares during the period. Finally, Abacus FCF Advisors LLC purchased a new stake in Tapestry during the third quarter valued at approximately $17,332,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TPR shares. Evercore boosted their target price on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Jefferies Financial Group cut Tapestry from a “buy” rating to a “hold” rating and cut their target price for the company from $142.00 to $138.00 in a research note on Wednesday, January 14th. Morgan Stanley boosted their price objective on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company upped their price objective on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Tapestry presently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

Insider Buying and Selling at Tapestry

In other Tapestry news, insider David E. Howard sold 25,029 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $5,673,785. This trade represents a 31.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. This represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 155,300 shares of company stock valued at $18,059,660. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Up 0.8%

NYSE:TPR opened at $154.47 on Thursday. 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. The company has a 50-day moving average of $129.99 and a 200 day moving average of $115.92. The firm has a market cap of $31.27 billion, a PE ratio of 63.83, a price-to-earnings-growth ratio of 1.89 and a beta of 1.63.

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

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is 66.12%.

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

Tapestry Company 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.