Krane Funds Advisors LLC Acquires New Position in Tapestry, Inc. $TPR

Krane Funds Advisors LLC bought a new position in Tapestry, Inc. (NYSE:TPR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,167 shares of the luxury accessories retailer’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPR. Cloud Capital Management LLC bought a new stake in shares of Tapestry in the 3rd quarter worth approximately $26,000. Vestor Capital LLC bought a new position in Tapestry during the 2nd quarter worth $27,000. CVA Family Office LLC increased its position in Tapestry by 224.8% in the second quarter. CVA Family Office LLC now owns 380 shares of the luxury accessories retailer’s stock worth $33,000 after buying an additional 263 shares during the period. Johnson Financial Group Inc. bought a new stake in Tapestry in the second quarter valued at $39,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Tapestry during the second quarter worth about $45,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPR has been the subject of a number of analyst reports. Wells Fargo & Company boosted their target price on shares of Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. UBS Group reiterated a “neutral” rating and set a $141.00 price objective on shares of Tapestry in a research report on Monday, February 9th. Wall Street Zen lowered Tapestry from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. JPMorgan Chase & Co. lifted their target price on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. Finally, Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity at Tapestry

In other Tapestry news, CEO Joanne C. Crevoiserat sold 48,795 shares of Tapestry stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $154.87, for a total value of $7,556,881.65. Following the transaction, the chief executive officer owned 671,193 shares in the company, valued at approximately $103,947,659.91. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Greco sold 14,245 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $154.44, for a total value of $2,199,997.80. Following the sale, the director owned 21,302 shares of the company’s stock, valued at $3,289,880.88. This trade represents a 40.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 165,539 shares of company stock worth $25,364,406. Company insiders own 1.32% of the company’s stock.

Tapestry Stock Performance

TPR opened at $152.76 on Tuesday. The business has a 50 day moving average price of $135.51 and a two-hundred day moving average price of $118.47. The company has a debt-to-equity ratio of 4.32, a current ratio of 1.63 and a quick ratio of 1.10. The company has a market capitalization of $30.93 billion, a price-to-earnings ratio of 63.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.63. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $158.28.

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

Tapestry Announces Dividend

The firm 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 is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s dividend payout ratio (DPR) is 66.12%.

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

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.