Congress Asset Management Co. Sells 76,827 Shares of Tapestry, Inc. $TPR

Congress Asset Management Co. lowered its stake in shares of Tapestry, Inc. (NYSE:TPR) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 610,337 shares of the luxury accessories retailer’s stock after selling 76,827 shares during the period. Congress Asset Management Co. owned approximately 0.30% of Tapestry worth $77,983,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Schroder Investment Management Group increased its stake in shares of Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after acquiring an additional 3,775,593 shares during the last quarter. Norges Bank bought a new position in Tapestry during the 2nd quarter worth approximately $227,248,000. Massachusetts Financial Services Co. MA boosted its stake in Tapestry by 250.6% during 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. State Street Corp grew its holdings in Tapestry by 19.3% during the third quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock valued at $1,044,995,000 after purchasing an additional 1,494,193 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in Tapestry by 160.5% in the third quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after purchasing an additional 1,162,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPR has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Barclays set a $179.00 price objective on shares of Tapestry and gave the company an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. BTIG Research lifted 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. Finally, Evercore boosted their target price on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.06.

Insider Buying and Selling

In related news, VP Manesh Dadlani sold 2,147 shares of Tapestry stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $153.47, for a total value of $329,500.09. Following the sale, the vice president owned 18,475 shares of the company’s stock, valued at approximately $2,835,358.25. This trade represents a 10.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total value of $1,426,412.92. Following the completion of the sale, the insider owned 26,942 shares in the company, valued at $4,192,714.04. The trade was a 25.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 164,956 shares of company stock valued at $25,297,262. Corporate insiders own 1.32% of the company’s stock.

Tapestry Stock Up 2.3%

Tapestry stock opened at $144.15 on Tuesday. The company has a 50 day moving average of $143.13 and a 200-day moving average of $124.90. 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 stock has a market capitalization of $29.18 billion, a PE ratio of 59.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.55.

Tapestry (NYSE:TPR) last issued its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, equities research analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Friday, March 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is currently 66.12%.

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.