Interchange Capital Partners LLC Invests $499,000 in Tapestry, Inc. $TPR

Interchange Capital Partners LLC bought a new position in Tapestry, Inc. (NYSE:TPR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,409 shares of the luxury accessories retailer’s stock, valued at approximately $499,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Convergence Financial LLC boosted its holdings in shares of Tapestry by 3.0% in the 2nd quarter. Convergence Financial LLC now owns 3,386 shares of the luxury accessories retailer’s stock valued at $297,000 after purchasing an additional 98 shares during the last quarter. Essex Financial Services Inc. raised its position in shares of Tapestry by 3.5% in the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock worth $376,000 after buying an additional 113 shares during the period. Earned Wealth Advisors LLC raised its position in shares of Tapestry by 1.6% in the 2nd quarter. Earned Wealth Advisors LLC now owns 7,304 shares of the luxury accessories retailer’s stock worth $641,000 after buying an additional 116 shares during the period. Blue Trust Inc. boosted its holdings in Tapestry by 19.7% in the third quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock valued at $84,000 after acquiring an additional 122 shares during the last quarter. Finally, Wedmont Private Capital grew its position in Tapestry by 3.3% during the third quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock valued at $502,000 after acquiring an additional 139 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Tapestry

In other Tapestry news, Director Thomas Greco sold 14,245 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total value of $2,199,997.80. Following the transaction, the director directly owned 21,302 shares of the company’s stock, valued at $3,289,880.88. This represents a 40.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne Gates sold 6,498 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $153.79, for a total value of $999,327.42. Following the transaction, the director owned 22,698 shares of the company’s stock, valued at approximately $3,490,725.42. This trade represents a 22.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 165,539 shares of company stock worth $25,364,406 over the last ninety days. Company insiders own 1.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 9th. BNP Paribas Exane began coverage on shares of Tapestry in a research report on Friday, February 13th. They set an “outperform” rating and a $176.00 target price for the company. Guggenheim began coverage on shares of Tapestry in a report on Tuesday, December 9th. They issued a “neutral” rating on the stock. Jefferies Financial Group cut shares of Tapestry from a “buy” rating to a “hold” rating and reduced their price target for the company from $142.00 to $138.00 in a research report on Wednesday, January 14th. Finally, The Goldman Sachs Group set a $166.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Tapestry Trading Up 2.3%

TPR opened at $160.50 on Friday. The firm’s 50 day moving average is $137.54 and its 200-day moving average is $119.34. Tapestry, Inc. has a 52-week low of $58.39 and a 52-week high of $161.97. The company has a quick ratio of 1.10, a current ratio of 1.63 and a debt-to-equity ratio of 4.32. The firm has a market capitalization of $32.50 billion, a P/E ratio of 66.32, a P/E/G ratio of 1.88 and a beta of 1.63.

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

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

Tapestry Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a yield of 1.0%. Tapestry’s payout ratio is currently 66.12%.

Tapestry Company 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.