Wedge Capital Management L L P NC Has $31.95 Million Holdings in Tapestry, Inc. $TPR

Wedge Capital Management L L P NC lessened its holdings in Tapestry, Inc. (NYSE:TPR) by 40.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 282,183 shares of the luxury accessories retailer’s stock after selling 189,123 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.14% of Tapestry worth $31,949,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Tapestry by 2.4% in the second 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 raised its position in shares of Tapestry by 3.0% during the 2nd 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 lifted its stake in shares of Tapestry by 12.4% in the 2nd quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after purchasing an additional 589,000 shares during the period. Schroder Investment Management Group boosted its position in shares of Tapestry by 1,661.6% in the 2nd quarter. Schroder Investment Management Group now owns 4,002,818 shares of the luxury accessories retailer’s stock worth $351,487,000 after purchasing an additional 3,775,593 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position 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 worth $311,388,000 after purchasing an additional 939,227 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Tapestry Price Performance

NYSE TPR opened at $125.42 on Friday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.93 and a current ratio of 1.52. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 111.98, a PEG ratio of 2.58 and a beta of 1.65. The business has a 50 day simple moving average of $112.06 and a 200 day simple moving average of $104.79. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $127.54.

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

Tapestry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 22nd. Investors of record on Friday, December 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. Tapestry’s dividend payout ratio is presently 142.86%.

Tapestry announced that its board has initiated a share buyback plan on Thursday, November 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the luxury accessories retailer to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TPR shares. Telsey Advisory Group reissued an “outperform” rating and issued a $150.00 target price on shares of Tapestry in a research note on Wednesday. Robert W. Baird set a $140.00 price target on Tapestry in a research note on Wednesday. Barclays lifted their price objective on shares of Tapestry from $111.00 to $127.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Weiss Ratings restated a “hold (c)” rating on shares of Tapestry in a report on Wednesday, October 8th. Finally, BTIG Research initiated coverage on shares of Tapestry in a report on Tuesday, October 14th. They issued a “buy” rating and a $140.00 target price on the stock. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $122.00.

Insider Activity

In related news, CEO Todd Kahn sold 29,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $102.83, for a total transaction of $2,982,070.00. Following the completion of the transaction, the chief executive officer directly owned 86,736 shares in the company, valued at approximately $8,919,062.88. This trade represents a 25.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David E. Howard sold 25,029 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $102.50, for a total value of $2,565,472.50. Following the completion of the sale, the insider owned 55,354 shares in the company, valued at $5,673,785. The trade was a 31.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 115,485 shares of company stock worth $12,034,058. 1.32% of the stock is currently owned by insiders.

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.