Victory Financial Group LLC Buys Shares of 7,921 Tapestry, Inc. $TPR

Victory Financial Group LLC purchased a new stake in Tapestry, Inc. (NYSE:TPR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,921 shares of the luxury accessories retailer’s stock, valued at approximately $696,000.

A number of other hedge funds have also recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in Tapestry by 120.1% in the 1st quarter. Harbour Investments Inc. now owns 361 shares of the luxury accessories retailer’s stock worth $25,000 after acquiring an additional 197 shares during the last quarter. Flaharty Asset Management LLC bought a new position in shares of Tapestry during the 1st quarter valued at about $25,000. First PREMIER Bank purchased a new position in shares of Tapestry during the 2nd quarter valued at about $25,000. Vestor Capital LLC bought a new stake in Tapestry in the 2nd quarter worth approximately $27,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Tapestry during the first quarter worth approximately $29,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Joanne C. Crevoiserat sold 31,735 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $105.31, for a total value of $3,342,012.85. Following the completion of the sale, the chief executive officer directly owned 667,233 shares of the company’s stock, valued at $70,266,307.23. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $104.85, for a total transaction of $1,970,550.90. Following the completion of the sale, the chief financial officer owned 148,149 shares of the company’s stock, valued at $15,533,422.65. This trade represents a 11.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,805 shares of company stock valued at $13,236,129 in the last quarter. 1.32% of the stock is currently owned by insiders.

Tapestry Price Performance

Shares of Tapestry stock opened at $116.15 on Friday. The stock’s fifty day moving average is $110.43 and its 200 day moving average is $101.64. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. Tapestry, Inc. has a one year low of $58.39 and a one year high of $118.56. The stock has a market cap of $23.77 billion, a P/E ratio of 103.71, a P/E/G ratio of 2.35 and a beta of 1.65.

Tapestry (NYSE:TPR) last issued its earnings results on Thursday, November 6th. The luxury accessories retailer reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.13. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.63 billion. Tapestry had a return on equity of 116.42% and a net margin of 3.77%.The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $0.84 EPS. Tapestry has set its FY 2026 guidance at 5.450-5.600 EPS. Sell-side analysts anticipate that Tapestry, Inc. will post 4.91 earnings per share for the current year.

Tapestry announced that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the luxury accessories retailer to purchase up to 4.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be given a $0.40 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.60 annualized dividend and a yield of 1.4%. Tapestry’s dividend payout ratio (DPR) is currently 142.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TPR shares. Sanford C. Bernstein boosted their target price on Tapestry from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. The Goldman Sachs Group boosted their price target on Tapestry from $116.00 to $130.00 and gave the company a “buy” rating in a report on Monday, October 6th. Morgan Stanley raised their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. BTIG Research assumed coverage on shares of Tapestry in a research report on Tuesday, October 14th. They set a “buy” rating and a $140.00 price objective on the stock. Finally, Robert W. Baird set a $130.00 price objective on shares of Tapestry in a report on Wednesday, October 29th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.26.

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.