Vest Financial LLC Decreases Position in Tapestry, Inc. $TPR

Vest Financial LLC lowered its position in Tapestry, Inc. (NYSE:TPR) by 33.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,680 shares of the luxury accessories retailer’s stock after selling 18,911 shares during the quarter. Vest Financial LLC’s holdings in Tapestry were worth $4,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TPR. Vestor Capital LLC purchased a new position in Tapestry during the 2nd quarter valued at about $27,000. CVA Family Office LLC increased its stake 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 purchasing an additional 263 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Tapestry during the 2nd quarter worth approximately $37,000. Johnson Financial Group Inc. purchased a new stake in Tapestry in the 2nd quarter valued at approximately $39,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Tapestry in the 2nd quarter valued at approximately $45,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of Tapestry stock opened at $132.21 on Thursday. The business’s fifty day moving average price is $121.16 and its 200 day moving average price is $112.33. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $136.04. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 5.95. The stock has a market capitalization of $27.06 billion, a P/E ratio of 118.04, a PEG ratio of 2.65 and a beta of 1.63.

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

Tapestry Dividend Announcement

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

Tapestry declared that its Board of Directors has approved a share repurchase program on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to buy up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on TPR. Wall Street Zen downgraded shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Guggenheim initiated coverage on shares of Tapestry in a research note on Tuesday, December 9th. They set a “neutral” rating on the stock. Evercore ISI lifted their target price on shares of Tapestry from $125.00 to $129.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. The Goldman Sachs Group increased their price target on Tapestry from $116.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Finally, Barclays upped their target price on Tapestry from $154.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.11.

Insider Buying and Selling

In other Tapestry news, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total transaction of $2,565,472.50. Following the transaction, the insider owned 55,354 shares in the company, valued at $5,673,785. The trade was a 31.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Kahn sold 29,000 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $102.83, for a total value of $2,982,070.00. Following the completion of the sale, the chief executive officer owned 86,736 shares of the company’s stock, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 115,485 shares of company stock valued at $12,034,058 over the last ninety days. Insiders own 1.32% of the company’s stock.

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.