Citigroup Inc. Decreases Stock Position in Tapestry, Inc. $TPR

Citigroup Inc. trimmed its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 85.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 156,254 shares of the luxury accessories retailer’s stock after selling 917,560 shares during the period. Citigroup Inc. owned approximately 0.08% of Tapestry worth $17,691,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TPR. Vanguard Group Inc. boosted its position in shares of Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after buying an additional 606,686 shares during the last quarter. Geode Capital Management LLC lifted its stake in Tapestry by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after acquiring an additional 158,782 shares during the period. SRS Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 589,000 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after acquiring an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after purchasing an additional 939,227 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TPR shares. Barclays set a $179.00 target price on shares of Tapestry and gave the stock an “overweight” rating in a report on Friday, February 6th. Robert W. Baird set a $160.00 price objective on Tapestry in a report on Friday, February 6th. Morgan Stanley increased their target price on Tapestry from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Zacks Research raised Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Argus raised shares of Tapestry to a “strong-buy” rating in a research report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.00.

Tapestry Stock Down 3.3%

NYSE TPR opened at $155.16 on Friday. The company has a market capitalization of $31.41 billion, a P/E ratio of 64.11, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97. The stock’s 50-day moving average price is $138.14 and its 200-day moving average price is $119.67. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last released 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 net margin of 6.95% and a return on equity of 157.98%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the company earned $2.00 EPS. Tapestry’s revenue for the quarter 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, equities research analysts predict that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

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

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

Insider Activity at Tapestry

In other news, Director Anne Gates sold 6,498 shares of Tapestry stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total transaction of $999,327.42. Following the sale, the director owned 22,698 shares in the company, valued at $3,490,725.42. This trade represents a 22.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Manesh Dadlani sold 2,147 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total transaction of $329,500.09. Following the transaction, the vice president owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. This represents a 10.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 165,539 shares of company stock worth $25,364,406 in the last three months. Corporate insiders own 1.32% of the company’s stock.

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.