Envestnet Asset Management Inc. Boosts Holdings in Tapestry, Inc. $TPR

Envestnet Asset Management Inc. increased its stake in shares of Tapestry, Inc. (NYSE:TPR) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,437 shares of the luxury accessories retailer’s stock after acquiring an additional 65,609 shares during the quarter. Envestnet Asset Management Inc. owned about 0.23% of Tapestry worth $52,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPR. Hantz Financial Services Inc. grew its holdings in shares of Tapestry by 14,321.2% during the third quarter. Hantz Financial Services Inc. now owns 66,049 shares of the luxury accessories retailer’s stock worth $7,478,000 after purchasing an additional 65,591 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Tapestry by 45.5% in the 3rd quarter. WCM Investment Management LLC now owns 815,037 shares of the luxury accessories retailer’s stock valued at $90,844,000 after purchasing an additional 254,936 shares during the period. AGF Management Ltd. boosted its position in shares of Tapestry by 7.4% in the 3rd quarter. AGF Management Ltd. now owns 121,032 shares of the luxury accessories retailer’s stock valued at $13,703,000 after purchasing an additional 8,290 shares during the period. State of Wyoming grew its stake in Tapestry by 42.0% during the 3rd quarter. State of Wyoming now owns 7,933 shares of the luxury accessories retailer’s stock worth $898,000 after buying an additional 2,347 shares during the last quarter. Finally, Convergence Investment Partners LLC acquired a new position in Tapestry during the third quarter worth approximately $711,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Tapestry Stock Up 1.7%

TPR stock opened at $154.61 on Tuesday. Tapestry, Inc. has a one year low of $58.39 and a one year high of $155.23. The stock has a market capitalization of $31.30 billion, a PE ratio of 63.89, a price-to-earnings-growth ratio of 2.28 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 company has a fifty day moving average of $128.27 and a 200-day moving average of $115.33.

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

Tapestry announced that its board has approved a share repurchase program on Thursday, November 6th that authorizes the company to buyback $1.00 billion in outstanding 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 typically an indication that the company’s management believes its shares are undervalued.

Tapestry Dividend Announcement

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

Insiders Place Their Bets

In other Tapestry news, insider David E. Howard sold 25,029 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the sale, the insider owned 55,354 shares of the company’s stock, valued at approximately $5,673,785. This trade represents a 31.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Kahn sold 10,344 shares of the business’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $107.00, for a total transaction of $1,106,808.00. Following the sale, the chief executive officer owned 131,815 shares in the company, valued at $14,104,205. The trade was a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TPR shares. Wells Fargo & Company boosted their price objective on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday. Evercore lifted their target price on shares of Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. The Goldman Sachs Group set a $166.00 price target on shares of Tapestry in a research note on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

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.