American Century Companies Inc. Lowers Stock Position in Tapestry, Inc. $TPR

American Century Companies Inc. cut its stake in shares of Tapestry, Inc. (NYSE:TPR) by 8.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,981 shares of the luxury accessories retailer’s stock after selling 15,556 shares during the quarter. American Century Companies Inc. owned 0.09% of Tapestry worth $19,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DNB Asset Management AS boosted its stake in Tapestry by 1,331.4% in the third quarter. DNB Asset Management AS now owns 39,478 shares of the luxury accessories retailer’s stock worth $4,470,000 after buying an additional 36,720 shares in the last quarter. Great Diamond Partners LLC purchased a new position in shares of Tapestry during the third quarter worth approximately $2,395,000. Three Seasons Wealth LLC bought a new stake in shares of Tapestry in the 3rd quarter worth approximately $1,882,000. Stevens Capital Partners purchased a new stake in shares of Tapestry in the 3rd quarter valued at $8,880,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Tapestry by 5,027.6% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, CEO Joanne C. Crevoiserat sold 48,795 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total value of $7,556,881.65. Following the completion of the transaction, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 39,815 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $151.34, for a total value of $6,025,602.10. Following the completion of the transaction, the chief executive officer owned 120,578 shares of the company’s stock, valued at approximately $18,248,274.52. The trade was a 24.82% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 164,956 shares of company stock worth $25,297,262. Company insiders own 1.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Tapestry from $147.00 to $148.00 and gave the stock an “overweight” rating in a research report on Monday, November 17th. Telsey Advisory Group increased their price objective on Tapestry to $150.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a report on Friday, February 6th. Robert W. Baird set a $160.00 price target on shares of Tapestry in a research report on Friday, February 6th. Finally, Guggenheim started coverage on shares of Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Tapestry Stock Up 0.8%

Shares of Tapestry stock opened at $145.33 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a 12-month low of $58.39 and a 12-month high of $161.97. The company has a market cap of $29.42 billion, a P/E ratio of 60.05, a PEG ratio of 1.73 and a beta of 1.55. The company’s fifty day simple moving average is $140.68 and its two-hundred day simple moving average is $121.99.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period last year, the company 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. Research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The company also recently disclosed 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 1.1%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s 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.