Cambria Investment Management L.P. Makes New $745,000 Investment in Tapestry, Inc. $TPR

Cambria Investment Management L.P. purchased a new position in Tapestry, Inc. (NYSE:TPR) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,581 shares of the luxury accessories retailer’s stock, valued at approximately $745,000.

Several other hedge funds have also modified their holdings of the stock. Cloud Capital Management LLC purchased a new stake in Tapestry during the 3rd quarter worth about $26,000. Vestor Capital LLC acquired a new position in shares of Tapestry during the second quarter worth about $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Tapestry during the second quarter worth approximately $39,000. Elevation Point Wealth Partners LLC acquired a new stake in Tapestry in the second quarter valued at approximately $45,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Tapestry in the second quarter worth approximately $52,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Tapestry Stock Up 1.7%

Shares of NYSE TPR opened at $157.08 on Thursday. The business has a 50-day moving average price of $139.73 and a 200 day moving average price of $120.83. The stock has a market cap of $31.80 billion, a PE ratio of 64.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.55. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $161.97.

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

Tapestry announced that its board has approved 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Tapestry Announces Dividend

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

Insider Activity at Tapestry

In related news, Director Thomas Greco sold 14,245 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the transaction, the director owned 21,302 shares of the company’s stock, valued at $3,289,880.88. This trade represents a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the sale, the chief executive officer directly owned 671,193 shares of the company’s stock, valued at approximately $103,947,659.91. This represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 164,956 shares of company stock worth $25,297,262 in the last three months. Company insiders own 1.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Zacks Research raised shares of Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. The Goldman Sachs Group set a $166.00 target price on Tapestry in a report on Friday, February 6th. Wall Street Zen raised Tapestry from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 28th. TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a research report on Tuesday, February 10th. Finally, Telsey Advisory Group raised their target price on Tapestry to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

Tapestry 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.