Tapestry, Inc. $TPR Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its stake in shares of Tapestry, Inc. (NYSE:TPR) by 39.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,892 shares of the luxury accessories retailer’s stock after selling 17,545 shares during the period. HighTower Advisors LLC’s holdings in Tapestry were worth $3,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Convergence Financial LLC boosted its position in Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock worth $297,000 after purchasing an additional 98 shares in the last quarter. Earned Wealth Advisors LLC lifted its stake in shares of Tapestry by 1.6% in the 2nd quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock valued at $641,000 after purchasing an additional 116 shares during the period. Blue Trust Inc. grew its position in Tapestry by 19.7% during the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after buying an additional 122 shares during the period. Wedmont Private Capital increased its holdings in Tapestry by 3.3% in the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after buying an additional 139 shares in the last quarter. Finally, 44 Wealth Management LLC raised its position in shares of Tapestry by 0.8% in the second quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock worth $1,670,000 after acquiring an additional 142 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Scott A. Roe sold 44,290 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the sale, the chief financial officer owned 139,128 shares of the company’s stock, valued at $21,233,715.36. This represents a 24.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Denise Kulikowsky sold 9,166 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the sale, the insider owned 26,942 shares of the company’s stock, valued at $4,192,714.04. This represents a 25.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 165,539 shares of company stock worth $25,364,406 over the last ninety days. 1.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TPR has been the subject of several recent analyst reports. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, January 21st. Sanford C. Bernstein reiterated an “outperform” rating and set a $170.00 target price on shares of Tapestry in a research report on Friday, February 6th. Wells Fargo & Company boosted their price target on shares of Tapestry from $142.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, BTIG Research upped their price objective on shares of Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tapestry has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Tapestry Price Performance

NYSE:TPR opened at $160.50 on Friday. Tapestry, Inc. has a one year low of $58.39 and a one year high of $161.97. The stock has a market cap of $32.50 billion, a PE ratio of 66.32, a P/E/G ratio of 1.88 and a beta of 1.63. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63. The stock has a 50 day moving average price of $137.54 and a 200 day moving average price of $119.34.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.49. Tapestry had a return on equity of 157.98% and a net margin of 6.95%.The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the business earned $2.00 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. Equities research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

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

Tapestry Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Tapestry’s payout ratio is 66.12%.

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.