Mitsubishi UFJ Asset Management Co. Ltd. Buys 187,432 Shares of Tapestry, Inc. $TPR

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Tapestry, Inc. (NYSE:TPR) by 85.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 407,871 shares of the luxury accessories retailer’s stock after buying an additional 187,432 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Tapestry worth $46,179,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Convergence Financial LLC lifted its position in shares of Tapestry by 3.0% during the second 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 in the last quarter. Essex Financial Services Inc. increased its stake in Tapestry by 3.5% in the 3rd quarter. Essex Financial Services Inc. now owns 3,324 shares of the luxury accessories retailer’s stock valued at $376,000 after buying an additional 113 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Tapestry by 19.7% during the 3rd quarter. Blue Trust Inc. now owns 741 shares of the luxury accessories retailer’s stock worth $84,000 after buying an additional 122 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Tapestry by 3.3% in the 3rd quarter. Wedmont Private Capital now owns 4,352 shares of the luxury accessories retailer’s stock worth $502,000 after buying an additional 139 shares during the last quarter. Finally, 44 Wealth Management LLC boosted its stake in shares of Tapestry by 0.8% in the 2nd quarter. 44 Wealth Management LLC now owns 19,018 shares of the luxury accessories retailer’s stock worth $1,670,000 after buying an additional 142 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Joanne C. Crevoiserat sold 48,795 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $154.87, for a total transaction of $7,556,881.65. Following the sale, the chief executive officer directly owned 671,193 shares in the company, valued at approximately $103,947,659.91. The trade was a 6.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Roe sold 44,290 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $152.62, for a total value of $6,759,539.80. Following the completion of the transaction, the chief financial officer owned 139,128 shares of the company’s stock, valued at approximately $21,233,715.36. This represents a 24.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 165,539 shares of company stock valued at $25,364,406 in the last 90 days. Corporate insiders own 1.32% of the company’s stock.

Tapestry Price Performance

Shares of NYSE:TPR opened at $155.16 on Friday. The firm has a market capitalization of $31.41 billion, a PE ratio of 64.11, a P/E/G ratio of 1.86 and a beta of 1.63. 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 company has a 50-day moving average price of $138.14 and a two-hundred day moving average price of $119.73. Tapestry, Inc. has a twelve month low of $58.39 and a twelve month high of $161.97.

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

Tapestry announced that its board has initiated a stock buyback program on Thursday, November 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the luxury accessories retailer to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Tapestry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 6th will be given a $0.40 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Tapestry’s payout ratio is 66.12%.

Analyst Ratings Changes

A number of analysts recently commented on TPR shares. Morgan Stanley lifted their price target on Tapestry from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. UBS Group reiterated a “neutral” rating and set a $141.00 target price on shares of Tapestry in a research note on Monday, February 9th. TD Cowen reissued a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Telsey Advisory Group increased their price target on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Evercore lifted their price objective on shares of Tapestry from $129.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

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.