Sirios Capital Management L P Buys Shares of 6,784 Tapestry, Inc. $TPR

Sirios Capital Management L P purchased a new stake in Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,784 shares of the luxury accessories retailer’s stock, valued at approximately $768,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Tapestry by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after buying an additional 606,686 shares during the period. Geode Capital Management LLC boosted its stake in Tapestry by 3.0% during the second quarter. Geode Capital Management LLC now owns 5,500,858 shares of the luxury accessories retailer’s stock worth $482,125,000 after buying an additional 158,782 shares during the period. SRS Investment Management LLC increased its position in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after acquiring an additional 589,000 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Tapestry by 21.1% during the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock valued at $549,046,000 after acquiring an additional 846,553 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Tapestry by 36.0% in the 2nd 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 period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Trading Down 0.4%

NYSE TPR opened at $142.12 on Friday. 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 firm has a market cap of $28.77 billion, a price-to-earnings ratio of 58.73, a PEG ratio of 1.71 and a beta of 1.55. The firm has a 50 day simple moving average of $141.96 and a 200-day simple moving average of $122.94. Tapestry, Inc. has a one year low of $58.39 and a one year high of $161.97.

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

Tapestry Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. Tapestry’s dividend payout ratio is currently 66.12%.

Insiders Place Their Bets

In related news, Director Thomas Greco sold 14,245 shares of Tapestry stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the completion of the transaction, the director directly owned 21,302 shares in the company, valued at approximately $3,289,880.88. This trade represents a 40.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joanne C. Crevoiserat sold 48,795 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total value of $7,556,881.65. Following the transaction, the chief executive officer directly owned 671,193 shares of the company’s stock, valued at $103,947,659.91. The trade was a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 164,956 shares of company stock valued at $25,297,262. 1.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TPR has been the topic of several recent analyst reports. Evercore upped their price objective on shares of Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Jefferies Financial Group lowered Tapestry from a “buy” rating to a “hold” rating and cut their target price for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. Argus set a $165.00 price target on Tapestry in a research note on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a research report on Wednesday, January 21st. Finally, Telsey Advisory Group lifted their price objective on Tapestry to $150.00 and gave the company an “outperform” rating in a research note 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $151.06.

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.