Cinctive Capital Management LP Has $5.37 Million Holdings in Tapestry, Inc. $TPR

Cinctive Capital Management LP trimmed its position in shares of Tapestry, Inc. (NYSE:TPR) by 78.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,445 shares of the luxury accessories retailer’s stock after selling 168,298 shares during the period. Cinctive Capital Management LP’s holdings in Tapestry were worth $5,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPR. Cloud Capital Management LLC acquired a new stake in Tapestry in the third quarter valued at $26,000. Vestor Capital LLC acquired a new position in shares of Tapestry during the 2nd quarter worth about $27,000. Johnson Financial Group Inc. acquired a new position in shares of Tapestry during the 2nd quarter worth about $39,000. Wealth Watch Advisors INC acquired a new position in shares of Tapestry during the 3rd quarter worth about $54,000. Finally, SJS Investment Consulting Inc. raised its holdings in shares of Tapestry by 2,171.4% in the 3rd quarter. SJS Investment Consulting Inc. now owns 477 shares of the luxury accessories retailer’s stock valued at $54,000 after purchasing an additional 456 shares during the period. 90.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the completion of the sale, the chief executive officer owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Manesh Dadlani sold 2,147 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $153.47, for a total transaction of $329,500.09. Following the completion of the sale, the vice president directly owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. The trade was a 10.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 164,956 shares of company stock worth $25,297,262 over the last three months. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Stock Down 0.4%

Shares of TPR opened at $142.12 on Monday. The firm has a market cap of $28.77 billion, a P/E ratio of 58.73, a price-to-earnings-growth ratio of 1.71 and a beta of 1.55. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97. The firm’s 50-day simple moving average is $141.96 and its 200 day simple moving average is $123.25.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (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 the consensus estimate of $2.29 billion. During the same period last year, the business posted $2.00 earnings per share. The business’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. On average, analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Investors of record on Friday, March 6th will be paid a $0.40 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.1%. Tapestry’s payout ratio is 66.12%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group set a $166.00 target price on shares of Tapestry in a research note on Friday, February 6th. JPMorgan Chase & Co. boosted 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. TD Cowen restated a “buy” rating on shares of Tapestry in a research note on Tuesday, February 10th. Evercore lifted their target price on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, BTIG Research boosted their target price on Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.06.

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.