Clifford Swan Investment Counsel LLC Trims Holdings in Tapestry, Inc. $TPR

Clifford Swan Investment Counsel LLC trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,321 shares of the luxury accessories retailer’s stock after selling 5,819 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Tapestry were worth $5,018,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Great Diamond Partners LLC bought a new position in shares of Tapestry in the third quarter worth $2,395,000. Three Seasons Wealth LLC purchased a new position in Tapestry during the third quarter worth about $1,882,000. Stevens Capital Partners bought a new position in Tapestry in the 3rd quarter worth about $8,880,000. Fisher Asset Management LLC raised its holdings 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 acquiring an additional 490,237 shares in the last quarter. Finally, Abacus FCF Advisors LLC bought a new stake in shares of Tapestry during the 3rd quarter valued at about $17,332,000. Institutional investors own 90.77% of the company’s stock.

Insider Activity

In other news, Director Anne Gates sold 6,498 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total value of $999,327.42. Following the transaction, the director owned 22,698 shares in the company, valued at approximately $3,490,725.42. This trade represents a 22.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the completion of the transaction, the insider directly owned 26,942 shares in the company, valued at approximately $4,192,714.04. The trade was a 25.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 165,539 shares of company stock valued at $25,364,406. Corporate insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the topic of a number of recent analyst reports. Barclays set a $179.00 target price on shares of Tapestry and gave the company an “overweight” rating in a research note on Friday, February 6th. Sanford C. Bernstein restated an “outperform” rating and set a $170.00 price objective on shares of Tapestry in a research report on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. Telsey Advisory Group raised their price target on Tapestry to $150.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Wall Street Zen cut Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Tapestry Stock Performance

Tapestry stock opened at $160.50 on Friday. The firm has a fifty day simple moving average of $137.54 and a two-hundred day simple moving average of $119.34. 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, Inc. has a twelve month low of $58.39 and a twelve month high of $161.97. The company has a market capitalization of $32.50 billion, a PE ratio of 66.32, a P/E/G ratio of 1.88 and a beta of 1.63.

Tapestry (NYSE:TPR) last announced its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (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 last year, the firm earned $2.00 earnings per share. The company’s revenue for the quarter 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 expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry announced that its board has initiated a stock buyback program 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 purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Tapestry Dividend Announcement

The business 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 $0.40 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.0%. Tapestry’s payout ratio is presently 66.12%.

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.