Reinhart Partners LLC. Sells 62,514 Shares of Tapestry, Inc. $TPR

Reinhart Partners LLC. decreased its holdings in Tapestry, Inc. (NYSE:TPR) by 42.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 84,377 shares of the luxury accessories retailer’s stock after selling 62,514 shares during the period. Reinhart Partners LLC.’s holdings in Tapestry were worth $9,553,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Woodline Partners LP raised its holdings in shares of Tapestry by 25.0% during the first quarter. Woodline Partners LP now owns 17,490 shares of the luxury accessories retailer’s stock valued at $1,231,000 after purchasing an additional 3,495 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Tapestry in the 1st quarter worth approximately $493,000. Strs Ohio bought a new stake in Tapestry in the 1st quarter worth approximately $1,090,000. Czech National Bank raised its stake in Tapestry by 6.8% during the 2nd quarter. Czech National Bank now owns 50,781 shares of the luxury accessories retailer’s stock valued at $4,459,000 after buying an additional 3,233 shares during the last quarter. Finally, Sivia Capital Partners LLC bought a new position in shares of Tapestry during the 2nd quarter valued at $602,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Tapestry

In related news, CEO Todd Kahn sold 29,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the completion of the sale, the chief executive officer owned 86,736 shares in the company, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Roe sold 18,794 shares of Tapestry stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the sale, the chief financial officer owned 148,149 shares in the company, valued at approximately $15,533,422.65. The trade was a 11.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 115,485 shares of company stock valued at $12,034,058. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Down 1.6%

TPR stock opened at $130.89 on Friday. The business’s 50-day moving average price is $119.56 and its 200-day moving average price is $111.29. The stock has a market cap of $26.79 billion, a P/E ratio of 116.86, a PEG ratio of 2.73 and a beta of 1.63. 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 twelve month low of $58.39 and a twelve month high of $136.04.

Tapestry (NYSE:TPR) last released its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 EPS for the quarter, topping 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 analysts’ expectations of $1.63 billion. During the same quarter last year, the business earned $0.84 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry declared that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Tapestry Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Tapestry in a report on Wednesday, December 17th. Robert W. Baird set a $140.00 price target on Tapestry in a research note on Wednesday, December 17th. Evercore ISI upped their price target on shares of Tapestry from $125.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. UBS Group raised their price objective on shares of Tapestry from $105.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Guggenheim assumed coverage on shares of Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating for the company. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.05.

Tapestry Company 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.