Texas Permanent School Fund Corp Lowers Stock Holdings in Tapestry, Inc. $TPR

Texas Permanent School Fund Corp lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 36.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,300 shares of the luxury accessories retailer’s stock after selling 8,145 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Tapestry were worth $1,256,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First PREMIER Bank acquired a new position in Tapestry in the second quarter valued at $25,000. Vestor Capital LLC purchased a new stake in Tapestry in the 2nd quarter valued at about $27,000. Flaharty Asset Management LLC acquired a new position in shares of Tapestry during the 1st quarter valued at about $25,000. CVA Family Office LLC lifted its holdings in shares of Tapestry by 224.8% during the 2nd quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after acquiring an additional 263 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Tapestry during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TPR. JPMorgan Chase & Co. boosted their target price on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, November 17th. Raymond James Financial upped their price target on Tapestry from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Tapestry in a research note on Wednesday, December 17th. Wells Fargo & Company boosted their target price on Tapestry from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and a consensus price target of $122.00.

Tapestry Stock Performance

Tapestry stock opened at $129.30 on Wednesday. The firm has a market capitalization of $26.46 billion, a PE ratio of 115.45, a price-to-earnings-growth ratio of 2.65 and a beta of 1.65. Tapestry, Inc. has a one year low of $58.39 and a one year high of $130.28. The stock’s 50 day moving average price is $112.62 and its 200 day moving average price is $105.68. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52.

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 analysts’ consensus estimates of $1.25 by $0.13. Tapestry had a net margin of 3.77% and a return on equity of 116.42%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. As a group, sell-side analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Friday, December 5th were issued a $0.40 dividend. The ex-dividend date was Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Tapestry’s payout ratio is currently 142.86%.

Tapestry declared that its Board of Directors has initiated a share buyback plan 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 repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Tapestry

In other Tapestry news, insider Denise Kulikowsky sold 583 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $115.17, for a total value of $67,144.11. Following the completion of the transaction, the insider directly owned 19,285 shares of the company’s stock, valued at $2,221,053.45. This represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joanne C. Crevoiserat sold 31,735 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total value of $3,342,012.85. Following the sale, the chief executive officer owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 115,485 shares of company stock worth $12,034,058 over the last three months. Insiders own 1.32% of the company’s stock.

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.