South Dakota Investment Council Lowers Stock Position in Tapestry, Inc. $TPR

South Dakota Investment Council cut its holdings in shares of Tapestry, Inc. (NYSE:TPR) by 78.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,677 shares of the luxury accessories retailer’s stock after selling 113,710 shares during the period. South Dakota Investment Council’s holdings in Tapestry were worth $2,782,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Harbour Investments Inc. grew its position in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock valued at $25,000 after buying an additional 197 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Tapestry in the 1st quarter valued at $25,000. First PREMIER Bank acquired a new position in Tapestry in the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Tapestry in the 1st quarter valued at $29,000. Finally, CVA Family Office LLC raised its holdings in Tapestry by 224.8% during the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after purchasing an additional 263 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Tapestry Price Performance

Shares of NYSE TPR opened at $106.37 on Tuesday. The firm has a market capitalization of $22.02 billion, a P/E ratio of 168.83, a PEG ratio of 2.72 and a beta of 1.57. Tapestry, Inc. has a one year low of $47.22 and a one year high of $118.56. The company’s fifty day moving average is $110.70 and its two-hundred day moving average is $96.49. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.67 billion. Tapestry had a net margin of 2.61% and a return on equity of 68.02%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 EPS. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were paid a dividend of $0.40 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s dividend payout ratio is presently 253.97%.

Insider Activity at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the transaction, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $99.05, for a total transaction of $780,712.10. Following the transaction, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This trade represents a 27.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on TPR shares. Wall Street Zen cut shares of Tapestry from a “strong-buy” rating to a “buy” rating in a report on Sunday. Morgan Stanley reissued an “overweight” rating on shares of Tapestry in a report on Thursday, September 11th. Robert W. Baird set a $130.00 price target on shares of Tapestry in a report on Wednesday, October 29th. Jefferies Financial Group increased their price target on shares of Tapestry from $125.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, BTIG Research assumed coverage on shares of Tapestry in a report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price target for the company. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.80.

About Tapestry

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.