Erste Asset Management GmbH Decreases Holdings in Tapestry, Inc. $TPR

Erste Asset Management GmbH cut its stake in Tapestry, Inc. (NYSE:TPR) by 20.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 973,400 shares of the luxury accessories retailer’s stock after selling 256,831 shares during the quarter. Tapestry comprises about 1.0% of Erste Asset Management GmbH’s investment portfolio, making the stock its 19th biggest position. Erste Asset Management GmbH’s holdings in Tapestry were worth $108,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Tapestry Trading Up 2.3%

NYSE TPR opened at $160.50 on Friday. 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, Inc. has a one year low of $58.39 and a one year high of $161.97. The company has a 50-day simple moving average of $137.54 and a 200-day simple moving average of $119.34. The firm has a market capitalization of $32.50 billion, a PE ratio of 66.32, a price-to-earnings-growth ratio of 1.88 and a beta of 1.63.

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

Tapestry Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Investors 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 dividend on an annualized basis and a yield of 1.0%. Tapestry’s payout ratio is currently 66.12%.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TPR shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $170.00 price objective on shares of Tapestry in a research report on Friday, February 6th. Wells Fargo & Company raised their price objective on Tapestry from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. The Goldman Sachs Group set a $166.00 target price on Tapestry in a research report on Friday, February 6th. Barclays set a $179.00 price target on shares of Tapestry and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tapestry in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.00.

Insider Activity

In related news, insider Denise Kulikowsky sold 9,166 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $155.62, for a total value of $1,426,412.92. Following the sale, the insider owned 26,942 shares of the company’s stock, valued at $4,192,714.04. This trade represents a 25.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Kahn sold 39,815 shares of Tapestry stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $151.34, for a total transaction of $6,025,602.10. Following the completion of the sale, the chief executive officer owned 120,578 shares in the company, valued at approximately $18,248,274.52. This represents a 24.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 165,539 shares of company stock worth $25,364,406 over the last 90 days. Insiders own 1.32% of the company’s stock.

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.