Tapestry, Inc. $TPR Shares Sold by GAM Holding AG

GAM Holding AG lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 17.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,900 shares of the luxury accessories retailer’s stock after selling 26,600 shares during the quarter. GAM Holding AG owned approximately 0.06% of Tapestry worth $11,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after purchasing an additional 838,057 shares during the last quarter. Southpoint Capital Advisors LP raised its holdings in shares of Tapestry by 25.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock worth $176,025,000 after acquiring an additional 500,000 shares during the period. Samlyn Capital LLC raised its holdings in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after acquiring an additional 658,889 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Tapestry by 21.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,651,892 shares of the luxury accessories retailer’s stock worth $116,310,000 after acquiring an additional 288,219 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Tapestry by 45.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,357,398 shares of the luxury accessories retailer’s stock worth $119,193,000 after acquiring an additional 422,259 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

In other Tapestry news, VP Manesh Dadlani sold 7,882 shares of Tapestry stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the completion of the transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at $2,089,756.90. The trade was a 27.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan Ka Ming Lau sold 11,320 shares of Tapestry stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $106.19, for a total value of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares of the company’s stock, valued at approximately $865,767.07. This represents a 58.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Bank of America lowered Tapestry from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $95.00 to $115.00 in a report on Tuesday, July 29th. BTIG Research assumed coverage on Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target on the stock. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 25th. Finally, Cowen reiterated a “buy” rating on shares of Tapestry in a report on Thursday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average target price of $115.60.

Tapestry Stock Down 1.4%

Shares of TPR opened at $111.32 on Friday. The firm has a market cap of $23.04 billion, a P/E ratio of 176.70, a price-to-earnings-growth ratio of 2.72 and a beta of 1.57. The company has a current ratio of 1.87, a quick ratio of 1.31 and a debt-to-equity ratio of 2.77. The company’s 50-day moving average price is $110.34 and its 200 day moving average price is $95.41. Tapestry, Inc. has a 12-month low of $46.77 and a 12-month high of $118.56.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.67 billion. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.Tapestry’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. On average, sell-side analysts forecast that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 22nd. Shareholders of record on Friday, September 5th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 annualized dividend and a yield of 1.4%. This is an increase from Tapestry’s previous quarterly dividend of $0.35. Tapestry’s dividend payout ratio is presently 253.97%.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.