Westfield Capital Management Co. LP Cuts Stock Holdings in Tapestry, Inc. $TPR

Westfield Capital Management Co. LP lessened its position in Tapestry, Inc. (NYSE:TPR) by 28.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,450,671 shares of the luxury accessories retailer’s stock after selling 968,574 shares during the quarter. Tapestry makes up about 1.2% of Westfield Capital Management Co. LP’s portfolio, making the stock its 15th largest holding. Westfield Capital Management Co. LP’s holdings in Tapestry were worth $277,465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock worth $2,274,536,000 after acquiring an additional 606,686 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tapestry by 3.0% in the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock valued at $482,125,000 after acquiring an additional 158,782 shares during the last quarter. SRS Investment Management LLC grew its holdings in shares of Tapestry by 12.4% during the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock worth $468,275,000 after purchasing an additional 589,000 shares during the period. Schroder Investment Management Group boosted its stake in Tapestry by 1,661.6% during the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after buying an additional 3,775,593 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Tapestry by 36.0% during the second quarter. AQR Capital Management LLC now owns 3,546,969 shares of the luxury accessories retailer’s stock valued at $311,388,000 after acquiring an additional 939,227 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

TPR has been the subject of several research reports. Jefferies Financial Group downgraded shares of Tapestry from a “buy” rating to a “hold” rating and dropped their target price for the company from $142.00 to $138.00 in a report on Wednesday, January 14th. BTIG Research raised their target price on Tapestry from $140.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 6th. Argus raised Tapestry to a “strong-buy” rating in a research report on Friday, January 16th. Robert W. Baird set a $160.00 price target on shares of Tapestry in a research report on Friday, February 6th. Finally, Wall Street Zen lowered shares of Tapestry from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Buying and Selling at Tapestry

In other Tapestry news, Director Thomas Greco sold 14,245 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares in the company, valued at $3,289,880.88. This represents a 40.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anne Gates sold 6,498 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total transaction of $999,327.42. Following the sale, the director owned 22,698 shares of the company’s stock, valued at $3,490,725.42. This represents a 22.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 165,539 shares of company stock worth $25,364,406. 1.32% of the stock is currently owned by corporate insiders.

Tapestry Trading Up 1.5%

NYSE TPR opened at $156.89 on Thursday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $158.28. The firm has a 50 day moving average of $136.84 and a two-hundred day moving average of $119.06. The stock has a market capitalization of $31.76 billion, a PE ratio of 64.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.63. 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 (NYSE:TPR) last released its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.00 EPS. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, research analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, March 6th. Tapestry’s dividend payout ratio (DPR) is 66.12%.

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

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.