Dana Investment Advisors Inc. Reduces Position in Tapestry, Inc. $TPR

Dana Investment Advisors Inc. lessened its stake in shares of Tapestry, Inc. (NYSE:TPR) by 23.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 150,265 shares of the luxury accessories retailer’s stock after selling 46,848 shares during the period. Dana Investment Advisors Inc. owned 0.07% of Tapestry worth $17,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TPR. Schroder Investment Management Group lifted its position in 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 valued at $351,487,000 after buying an additional 3,775,593 shares during the last quarter. Norges Bank purchased a new stake in shares of Tapestry in the 2nd quarter valued at approximately $227,248,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after acquiring an additional 1,750,566 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Tapestry by 36.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock worth $311,388,000 after purchasing an additional 939,227 shares during the period. Finally, Marshall Wace LLP increased its holdings in Tapestry by 2,547.4% in the 2nd quarter. Marshall Wace LLP now owns 955,667 shares of the luxury accessories retailer’s stock valued at $83,917,000 after purchasing an additional 919,569 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, January 21st. Guggenheim started coverage on shares of Tapestry in a research note on Tuesday, December 9th. They issued a “neutral” rating for the company. Zacks Research raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. Citigroup raised their price target on shares of Tapestry from $152.00 to $165.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Tapestry in a research note on Tuesday, February 10th. Two equities research 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 company’s stock. Based on data from MarketBeat, Tapestry presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Transactions at Tapestry

In other news, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the sale, the insider owned 26,942 shares in the company, valued at $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne Gates sold 6,498 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total value of $999,327.42. Following the completion of the transaction, the director directly owned 22,698 shares of the company’s stock, valued at $3,490,725.42. This represents a 22.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 165,539 shares of company stock worth $25,364,406 in the last quarter. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Down 2.8%

TPR opened at $152.76 on Tuesday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $158.28. The business has a 50 day moving average price of $135.51 and a two-hundred day moving average price of $118.47. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The company has a market cap of $30.93 billion, a PE ratio of 63.13, a P/E/G ratio of 1.93 and a beta 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.29 billion. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.00 EPS. 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 year.

Tapestry Dividend Announcement

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 yield of 1.0%. Tapestry’s dividend payout ratio is 66.12%.

Tapestry announced that its board has authorized a stock repurchase program on Thursday, November 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Tapestry 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.