L2 Asset Management LLC Purchases 5,409 Shares of Tapestry, Inc. $TPR

L2 Asset Management LLC grew its position in Tapestry, Inc. (NYSE:TPR) by 17.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 35,614 shares of the luxury accessories retailer’s stock after buying an additional 5,409 shares during the period. L2 Asset Management LLC’s holdings in Tapestry were worth $4,032,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Tapestry by 2.4% during the second quarter. Vanguard Group Inc. now owns 25,902,930 shares of the luxury accessories retailer’s stock valued at $2,274,536,000 after buying an additional 606,686 shares during the last quarter. SRS Investment Management LLC raised its holdings in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after purchasing an additional 589,000 shares during the last quarter. Schroder Investment Management Group lifted its position in Tapestry by 21.1% during the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock valued at $549,046,000 after purchasing an additional 846,553 shares during the period. AQR Capital Management LLC lifted its position in Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock valued at $487,708,000 after purchasing an additional 760,646 shares during the period. Finally, Norges Bank purchased a new stake in Tapestry in the second quarter worth approximately $227,248,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TPR. Citigroup lifted their target price on shares of Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Evercore increased their price target on Tapestry from $129.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Wall Street Zen upgraded Tapestry from a “buy” rating to a “strong-buy” rating in a research note on Monday. Zacks Research upgraded Tapestry from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 9th. Finally, BNP Paribas Exane started coverage on Tapestry in a report on Friday, February 13th. They issued an “outperform” rating and a $176.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tapestry presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.06.

Insider Transactions at Tapestry

In related news, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the completion of the transaction, the insider directly owned 26,942 shares in the company, valued at approximately $4,192,714.04. The trade was a 25.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Greco sold 14,245 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $154.44, for a total transaction of $2,199,997.80. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 164,956 shares of company stock valued at $25,297,262. Company insiders own 1.32% of the company’s stock.

Tapestry Trading Down 0.2%

Shares of Tapestry stock opened at $141.82 on Tuesday. Tapestry, Inc. has a 1-year low of $58.39 and a 1-year high of $161.97. The company’s fifty day simple moving average is $142.23 and its 200-day simple moving average is $123.53. 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 stock has a market capitalization of $28.71 billion, a PE ratio of 58.60, a P/E/G ratio of 1.71 and a beta of 1.55.

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

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders 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 dividend on an annualized basis and a yield of 1.1%. Tapestry’s dividend payout ratio is presently 66.12%.

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.