Connors Investor Services Inc. Grows Position in Tapestry, Inc. $TPR

Connors Investor Services Inc. raised its stake in shares of Tapestry, Inc. (NYSE:TPR) by 3.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,040 shares of the luxury accessories retailer’s stock after acquiring an additional 3,613 shares during the period. Connors Investor Services Inc. owned about 0.06% of Tapestry worth $14,157,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Schroder Investment Management Group raised its holdings in shares of Tapestry by 1,661.6% in the second quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock valued at $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Norges Bank purchased a new position in Tapestry during the second quarter worth about $227,248,000. Massachusetts Financial Services Co. MA grew its position in Tapestry by 250.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,449,170 shares of the luxury accessories retailer’s stock worth $277,295,000 after purchasing an additional 1,750,566 shares in the last quarter. State Street Corp grew its position in Tapestry by 19.3% in the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after purchasing an additional 1,494,193 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in Tapestry by 160.5% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,886,518 shares of the luxury accessories retailer’s stock valued at $213,592,000 after buying an additional 1,162,442 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPR has been the topic of a number of research analyst reports. Evercore boosted their target price on Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Guggenheim initiated coverage on Tapestry in a research report on Tuesday, December 9th. They set a “neutral” rating for the company. Telsey Advisory Group lifted their price target on Tapestry to $150.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. BTIG Research boosted their price objective on Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $151.06.

Tapestry Stock Up 1.0%

Tapestry stock opened at $143.27 on Wednesday. The firm has a 50 day moving average price of $142.43 and a 200-day moving average price of $123.82. 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 twelve month low of $58.39 and a twelve month high of $161.97. The company has a market capitalization of $29.01 billion, a P/E ratio of 59.20, a P/E/G ratio of 1.70 and a beta of 1.55.

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

Tapestry Announces Dividend

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

Insider Activity at Tapestry

In related news, insider Denise Kulikowsky sold 9,166 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total value of $1,426,412.92. Following the completion of the sale, the insider owned 26,942 shares of the company’s stock, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Roe sold 44,290 shares of the business’s stock in a transaction dated 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 in the company, valued at $21,233,715.36. This represents a 24.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 164,956 shares of company stock worth $25,297,262 in the last three months. Corporate insiders own 1.32% of the company’s stock.

About Tapestry

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.