Tapestry, Inc. $TPR Shares Sold by Hook Mill Capital Partners LP

Hook Mill Capital Partners LP lowered its position in Tapestry, Inc. (NYSE:TPR) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 685,504 shares of the luxury accessories retailer’s stock after selling 74,254 shares during the quarter. Tapestry accounts for approximately 5.9% of Hook Mill Capital Partners LP’s holdings, making the stock its 2nd biggest holding. Hook Mill Capital Partners LP owned about 0.33% of Tapestry worth $60,194,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First PREMIER Bank purchased a new position in Tapestry in the second quarter valued at about $25,000. Vestor Capital LLC bought a new position in Tapestry during the 2nd quarter valued at $27,000. Flaharty Asset Management LLC bought a new stake in shares of Tapestry in the 1st quarter worth about $25,000. CVA Family Office LLC raised its stake in shares of Tapestry by 224.8% in the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock valued at $33,000 after purchasing an additional 263 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Tapestry in the 1st quarter valued at about $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of NYSE TPR opened at $123.22 on Friday. The firm’s 50-day simple moving average is $111.05 and its 200 day simple moving average is $103.06. The stock has a market cap of $25.22 billion, a P/E ratio of 110.02, a P/E/G ratio of 2.54 and a beta of 1.65. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 5.95. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $125.18.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the firm posted $0.84 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Shareholders of record on Friday, December 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. Tapestry’s dividend payout ratio is currently 142.86%.

Tapestry announced that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on TPR shares. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. UBS Group decreased their target price on Tapestry from $112.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Guggenheim assumed coverage on Tapestry in a research report on Tuesday. They set a “neutral” rating on the stock. Evercore ISI raised their price objective on Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Finally, Barclays upped their target price on Tapestry from $111.00 to $127.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $119.63.

Insider Activity at Tapestry

In other news, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the completion of the sale, the chief financial officer directly owned 148,149 shares of the company’s stock, valued at $15,533,422.65. This trade represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Denise Kulikowsky sold 583 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $115.17, for a total value of $67,144.11. Following the sale, the insider directly owned 19,285 shares in the company, valued at $2,221,053.45. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is owned by corporate insiders.

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.