Tapestry, Inc. $TPR Shares Acquired by Amalgamated Bank

Amalgamated Bank lifted its stake in shares of Tapestry, Inc. (NYSE:TPR) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,386 shares of the luxury accessories retailer’s stock after purchasing an additional 3,811 shares during the quarter. Amalgamated Bank’s holdings in Tapestry were worth $3,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TPR. Nuveen LLC acquired a new stake in shares of Tapestry during the 1st quarter worth approximately $59,133,000. AQR Capital Management LLC raised its position in shares of Tapestry by 47.4% during the 1st quarter. AQR Capital Management LLC now owns 2,607,742 shares of the luxury accessories retailer’s stock worth $177,405,000 after purchasing an additional 838,057 shares during the period. Samlyn Capital LLC raised its position in shares of Tapestry by 50.2% during the 1st quarter. Samlyn Capital LLC now owns 1,972,241 shares of the luxury accessories retailer’s stock worth $138,865,000 after purchasing an additional 658,889 shares during the period. Southpoint Capital Advisors LP raised its position in shares of Tapestry by 25.0% during the 1st quarter. Southpoint Capital Advisors LP now owns 2,500,000 shares of the luxury accessories retailer’s stock worth $176,025,000 after purchasing an additional 500,000 shares during the period. Finally, Royal Bank of Canada increased its position in Tapestry by 292.8% in the 1st quarter. Royal Bank of Canada now owns 305,590 shares of the luxury accessories retailer’s stock valued at $21,516,000 after acquiring an additional 464,113 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TPR shares. Robert W. Baird set a $130.00 target price on Tapestry in a research note on Wednesday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $112.00 target price on shares of Tapestry in a research note on Friday, August 15th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tapestry in a research note on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tapestry in a research note on Wednesday, October 8th. Finally, BTIG Research started coverage on Tapestry in a research note on Tuesday, October 14th. They set a “buy” rating and a $140.00 target price on the stock. Eighteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.60.

Tapestry Stock Down 1.4%

Shares of TPR stock opened at $109.77 on Monday. Tapestry, Inc. has a 1 year low of $46.77 and a 1 year high of $118.56. The stock has a market cap of $22.72 billion, a PE ratio of 174.23, a price-to-earnings-growth ratio of 2.72 and a beta of 1.57. The business’s fifty day moving average is $110.55 and its 200-day moving average is $96.19. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.31 and a current ratio of 1.87.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, August 14th. The luxury accessories retailer reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.02. Tapestry had a return on equity of 68.02% and a net margin of 2.61%.The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Tapestry has set its FY 2026 guidance at 5.300-5.450 EPS. Equities analysts expect that Tapestry, Inc. will post 4.91 earnings per share for the current fiscal year.

Tapestry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 22nd. Stockholders of record on Friday, September 5th were given a dividend of $0.40 per share. This is a boost from Tapestry’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, September 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Tapestry’s payout ratio is 253.97%.

Insider Buying and Selling at Tapestry

In other news, Director Alan Ka Ming Lau sold 11,320 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $106.19, for a total transaction of $1,202,070.80. Following the completion of the sale, the director directly owned 8,153 shares of the company’s stock, valued at $865,767.07. This trade represents a 58.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Manesh Dadlani sold 7,882 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $99.05, for a total value of $780,712.10. Following the sale, the vice president directly owned 21,098 shares of the company’s stock, valued at approximately $2,089,756.90. This represents a 27.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by company insiders.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.