Envestnet Asset Management Inc. Raises Stock Position in Tapestry, Inc. $TPR

Envestnet Asset Management Inc. grew its stake in shares of Tapestry, Inc. (NYSE:TPR) by 16.3% in the third quarter, Holdings Channel.com reports. The fund owned 467,437 shares of the luxury accessories retailer’s stock after purchasing an additional 65,609 shares during the period. Envestnet Asset Management Inc.’s holdings in Tapestry were worth $52,923,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cloud Capital Management LLC acquired a new position in Tapestry during the third quarter worth $26,000. Vestor Capital LLC acquired a new position in shares of Tapestry during the 2nd quarter worth $27,000. CVA Family Office LLC boosted its position in shares of Tapestry by 224.8% in the 2nd 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 in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Tapestry in the 2nd quarter valued at about $37,000. Finally, Johnson Financial Group Inc. acquired a new stake in Tapestry in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

TPR has been the topic of several recent research reports. Telsey Advisory Group upped their price target on shares of Tapestry to $150.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Argus raised Tapestry to a “strong-buy” rating in a research note on Friday, January 16th. Raymond James Financial increased their target price on Tapestry from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Citigroup boosted their price target on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Tapestry from $147.00 to $148.00 and gave the company an “overweight” rating in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tapestry has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Tapestry Trading Up 1.7%

Shares of TPR opened at $154.61 on Tuesday. Tapestry, Inc. has a fifty-two week low of $58.39 and a fifty-two week high of $155.23. The company has a market capitalization of $31.30 billion, a PE ratio of 63.89, a price-to-earnings-growth ratio of 2.28 and a beta of 1.63. The stock has a fifty day moving average of $128.27 and a two-hundred day moving average of $115.33. The company has a debt-to-equity ratio of 4.32, a quick ratio of 1.10 and a current ratio of 1.63.

Tapestry (NYSE:TPR) last posted its quarterly earnings data on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.49. The business 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 business’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.00 earnings per share. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. As a group, analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current year.

Tapestry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Friday, March 6th will be issued a $0.40 dividend. 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 66.12%.

Tapestry announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Tapestry

In other news, CEO Joanne C. Crevoiserat sold 31,735 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $105.31, for a total transaction of $3,342,012.85. Following the transaction, the chief executive officer directly owned 667,233 shares in the company, valued at $70,266,307.23. This represents a 4.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Scott A. Roe sold 18,794 shares of the firm’s stock in a transaction that occurred on 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 directly owned 148,149 shares in the company, valued at $15,533,422.65. This represents a 11.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 115,485 shares of company stock worth $12,034,058. Corporate insiders own 1.32% of the company’s stock.

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.